Birdwatch Note Rating
2023-03-18 22:15:04 UTC - HELPFUL
Rated by Participant: 0E63B49D9048CD799C1E5C16B6B36B07A21A96F07A4153F41FABFB7784A26128
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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