Birdwatch Note Rating
2023-03-19 14:06:52 UTC - NOT_HELPFUL
Rated by Participant: 2B844F8A1C94CCADF7DD3B2D350165D12969C949FB322E2A237AF4819EC9F32E
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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