Birdwatch Note Rating
2023-03-19 06:55:25 UTC - HELPFUL
Rated by Participant: 0AE8E0A187975D5C890AFFA7143CE809D211D042E01867E1468B3EF1D59A4CD9
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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