Birdwatch Note Rating
2023-03-18 23:19:46 UTC - HELPFUL
Rated by Participant: 0F415666217B6C1A581B5692BCEFCEFAB0B131CECF795F76DC13FD0017C19D56
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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