Birdwatch Note Rating
2023-03-19 05:48:12 UTC - HELPFUL
Rated by Participant: 16A2B9725DA94400BB62351D1CCCBDD1C36CC17965B4FB2E9073F64B1DCFD129
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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