Birdwatch Note Rating
2023-03-19 18:51:45 UTC - HELPFUL
Rated by Participant: 22E8BADED3F0DE4926F536787FF5A93F40CEE993019F721634758A59FD4E13E1
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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