Birdwatch Note Rating
2023-03-19 19:19:04 UTC - HELPFUL
Rated by Participant: 2E74BFC608CA8745F2A6F064EB347DEA8B7EB60FB7DB15062A2E2D181C1C003C
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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