Birdwatch Note Rating
2023-03-19 02:10:14 UTC - HELPFUL
Rated by Participant: 2C074764B85F01A085143CE57A6735580C00206B4735C6349B414EFF5BE4C8B2
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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