Birdwatch Note Rating
2023-03-19 06:12:02 UTC - HELPFUL
Rated by Participant: 29BD497C97454290B61F7877FC0143A9E7445085DF25B3BE553263C9DD92F3EC
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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