Birdwatch Note Rating
2023-03-18 23:01:52 UTC - HELPFUL
Rated by Participant: 2A623547AEA39EA1775D4C73A885C4B86DF27B9DD1E63FABE82BA40CAA37CF1A
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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