Birdwatch Note Rating
2023-03-19 06:57:41 UTC - HELPFUL
Rated by Participant: 077F25A014CF9C4F954589419526BE9564058B0EFF384A246B133B7EDD2CEE0F
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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