Birdwatch Note Rating
2023-03-19 02:04:44 UTC - HELPFUL
Rated by Participant: 1EF4FBCBC5D7B02FCC3AA1A7BA00741EFFA7127DC102096C86A97CCA7743B4E9
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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