Birdwatch Note Rating
2023-03-19 13:33:49 UTC - HELPFUL
Rated by Participant: 063F1184C2BD216CECFF4CD536E809DE87FFBB4C1DC73D688DEA768AB2F703E9
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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