Birdwatch Note Rating
2023-03-18 22:02:41 UTC - HELPFUL
Rated by Participant: 0EDB25C3836F2041DD0C5175F72C4EACE3765E5827DAF324FF38455372BE8FEB
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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