Birdwatch Note Rating
2023-03-18 21:26:01 UTC - HELPFUL
Rated by Participant: 2711D3F5E5A5BE77300960D3607FBB926A9A14AF841670CE956E000A9F1BBF98
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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