Birdwatch Note Rating
2023-03-20 23:04:10 UTC - HELPFUL
Rated by Participant: 1F0BA52CA36FD40EC1333BF1D1BCA1617DAB85DD074E002043823C98FF2C1F90
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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