Birdwatch Note Rating
2023-03-19 07:15:48 UTC - HELPFUL
Rated by Participant: 1B6CAFBE9CCB05E9ECCADC64E3FBFA1F06CF53AED089E1C55F82479EF56D1DAF
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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