Birdwatch Note Rating
2023-03-18 22:08:13 UTC - HELPFUL
Rated by Participant: 27A716896079D5810CFF9732E7F1386E3B2C6019A5FB9772F9EA90520855EA85
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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