Birdwatch Note Rating
2023-03-18 22:50:43 UTC - HELPFUL
Rated by Participant: 2B6D8B76591A0619EE3D0CD223968928032D7405C0E0EB540BB2F3F9C85E6FAF
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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