Birdwatch Note Rating
2023-03-19 19:20:21 UTC - HELPFUL
Rated by Participant: 14571F67E9CE47844BB1F445EED7CAC6C538F02946B0D110B2CD3430C2CE31D6
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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