Birdwatch Note Rating
2023-03-19 06:06:29 UTC - HELPFUL
Rated by Participant: 1C311990A74FF6793E58EA74921ECD5F412D312AD76F6855BEDBE12EF0FF4CA3
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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