Birdwatch Note Rating
2023-03-19 18:51:03 UTC - HELPFUL
Rated by Participant: 1D077442CEA1D224861AD2544955446553D3DE27AE050DF550B7B144EC3673E7
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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