Birdwatch Note Rating
2023-03-19 00:13:59 UTC - HELPFUL
Rated by Participant: 0E3E52A39A608F7C41EE5C87765E19C7C9D72B69131DD01F0CA6B4D69FFFC95B
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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