Birdwatch Note Rating
2023-03-20 05:36:47 UTC - NOT_HELPFUL
Rated by Participant: 26B13805B2B031C757D8A25E0DEF5CDEFCE9E148A85EE7970E08AB3E0CD0C624
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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