Birdwatch Note Rating
2023-03-19 00:34:47 UTC - HELPFUL
Rated by Participant: 1D96FC0584C0248A7F6640B60228A4B8E4DEEBE885319A9D77EED3D7A2E39929
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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