Birdwatch Note Rating
2023-03-19 18:57:15 UTC - HELPFUL
Rated by Participant: 2CEFEBF2A8AD31E66CC8DE55C4334482BBF9EA42E423DBD3DAAE98C3BD011EE2
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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