Birdwatch Note Rating
2023-03-19 06:05:33 UTC - HELPFUL
Rated by Participant: 2264030F7FB3707EBEF4D8E7E014F2B0DD7561AEF296B3C745C7B64EA8DE3871
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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