Birdwatch Note Rating
2023-06-25 14:00:54 UTC - HELPFUL
Rated by Participant: 19C853B4BCA87E15F4319B9E9D0AEBFA9C8AB0291DDFC9B438EE12155F184AE1
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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