Birdwatch Note Rating
2023-03-20 01:28:52 UTC - HELPFUL
Rated by Participant: 2CA339DAD9D976A1C7E89A9CF00A8F85C352E4E31C90D96FEB217E7B5B807682
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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