Birdwatch Note Rating
2023-03-18 22:03:38 UTC - HELPFUL
Rated by Participant: 0D1BBCA1183011F66026409BF93881F5C409765F52F10EC55AEC86A326CAE198
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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