Birdwatch Note Rating
2023-03-19 17:49:51 UTC - NOT_HELPFUL
Rated by Participant: 19415CBFD9D4E71EEAD21A4D1389AB64C9DF77FF3CFFEF5690DFAED70B8A0D21
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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