Birdwatch Note Rating
2023-03-19 02:41:21 UTC - HELPFUL
Rated by Participant: 1F873EB34BCB43FD095526E9F0C34EC8A69FA921E3E421B7937F29FB5FA4D4B7
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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