Birdwatch Note Rating
2023-03-18 22:22:41 UTC - HELPFUL
Rated by Participant: 2582783DAA7B4A6B0C53B143CDB8D8D14F211EA9A769903D106D06FC966D277C
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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