Birdwatch Note Rating
2023-03-18 23:01:44 UTC - HELPFUL
Rated by Participant: 291493C24653B27855E54BF5A87E03C1CC1E87D407D9F7BFE2B4EB62FC10CE78
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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