Birdwatch Note Rating
2023-03-19 01:17:21 UTC - HELPFUL
Rated by Participant: 2F2F249E8FA9DECAF1CB6ED43C2ED33E1FD26B602AF6DB20FF5C977FAD91733F
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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