Birdwatch Note Rating
2023-03-19 19:45:01 UTC - HELPFUL
Rated by Participant: 11309FC5F3E19019B2CC6DB61EFD0F5D6657E951722EF1970A55C72DEC7E8F9E
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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