Birdwatch Note Rating
2023-03-18 21:23:22 UTC - HELPFUL
Rated by Participant: 26DC0075E259872418DD814E9C4B2D0BC493EA890F009EE4489C46D8F2DFCE1C
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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