Birdwatch Note Rating
2023-03-18 21:29:28 UTC - HELPFUL
Rated by Participant: 0118BDC15BF541EB4B4F2E95F89FF3C86E287B570905F64F24692C24A2FF1EED
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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