Birdwatch Note Rating
2023-03-18 22:04:02 UTC - HELPFUL
Rated by Participant: 2540CE53338CB75FBAA2E029507702AE47DF94FD41EB50544F68F249EEF5746A
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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