Birdwatch Note Rating
2023-03-19 12:35:36 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 2F1E148E62276FF995A4480A9B87C1F2CAAFC522D4E432927F446677D1ACD5FE
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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