Birdwatch Note Rating
2023-03-19 07:14:55 UTC - HELPFUL
Rated by Participant: 0C22814771FA3C057E01AB24B1BAD1928F4205033C34507FF0070DF0E8F6B47C
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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