Birdwatch Note Rating
2023-03-18 21:45:19 UTC - HELPFUL
Rated by Participant: 17128CFCE92E063DB1796DF8149E13BDF71EE262138E5A611F75DE71B983F991
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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