Birdwatch Note Rating
2023-03-18 21:30:11 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 13F0286B0BDA13614EB29B00318970FE885C6E71680B53EDA727C4AAD97632F8
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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