Birdwatch Note Rating
2023-03-18 22:14:09 UTC - HELPFUL
Rated by Participant: 201A7181BF06780AF5230F97724E5FEBAEFC25B6590F323DE183ABF7C8B3804A
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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