Birdwatch Note Rating
2023-03-20 21:28:54 UTC - HELPFUL
Rated by Participant: 2F1EA5DFA0FE24EE31B6564D84027D076D7AF93FD8958252F3A7C4B38EDD07CE
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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