Birdwatch Note Rating
2023-03-19 23:36:48 UTC - HELPFUL
Rated by Participant: 08956573BB2DC88E23E98EE7F3B4E96E8DD83B6A4D0EBCA73CA0D23CA67550C1
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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