Birdwatch Note Rating
2023-03-19 07:17:05 UTC - HELPFUL
Rated by Participant: 12D951C002E7A5FA0C557232D8BA4AE1858F7A8290A05F982061998D5899D8E7
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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