Birdwatch Note Rating
2023-03-19 19:12:42 UTC - HELPFUL
Rated by Participant: 22273EA9F1F73D0E93678B654164F5EECF50C8E889B56442EC9BF558F3808CCB
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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