Birdwatch Note Rating
2023-03-19 06:56:59 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 03FAA3FD41C82BD937AA3022CC5FF196A4FD4960F92046025E726A4E5ADE2885
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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