Birdwatch Note Rating
2023-03-19 04:01:59 UTC - HELPFUL
Rated by Participant: 2E95B1F208BCEDF2A87669C6B222476981DA2063D81C2C45BE0BFA71765B87BA
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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