Birdwatch Note Rating
2023-03-20 09:08:38 UTC - HELPFUL
Rated by Participant: 15A11D3D38BA56DD86BEC08955499DEAD4C989D9CA573B8E86A1B031CD6868CF
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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