Birdwatch Note Rating
2023-03-19 19:31:54 UTC - HELPFUL
Rated by Participant: 27C8B908C88381BA3BAA888B5A03C3E0D6F897281A0E2FEE34BF6D884A508DEA
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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