Birdwatch Note Rating
2023-03-19 05:53:10 UTC - HELPFUL
Rated by Participant: 1D6420C1A3748D61E23FBEB1E118B2C9EE75B553AB9CDF375E953A0C20945ED8
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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