Birdwatch Note Rating
2023-03-19 18:56:51 UTC - HELPFUL
Rated by Participant: 00D2F00AD161415163D8B39864EE9C92120DE242F9FBD11EE3985D4466CA4686
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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