Birdwatch Note Rating
2023-03-19 21:06:12 UTC - HELPFUL
Rated by Participant: 152CC7D1660D2763CF64A060678037087F3A3ED6377B34D7BC4ECA4C68D2CE1B
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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