Birdwatch Note Rating
2023-03-19 09:36:23 UTC - HELPFUL
Rated by Participant: 12A80C05771110420ADC6E9272FF6A9DCD96CE667FAF0D43A2353327AEA6895D
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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