Birdwatch Note Rating
2023-03-19 01:04:09 UTC - HELPFUL
Rated by Participant: 0A2C1448069F7393CA659AE01CDAC943B9B767F88A8E5ED3CA02918A63A24356
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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