Birdwatch Note Rating
2023-03-19 18:29:05 UTC - HELPFUL
Rated by Participant: 28303D75A2310A694A4C282DB20EA06137137FFBD6509EF56C438E35C1D64053
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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