Birdwatch Note Rating
2023-03-19 17:19:42 UTC - HELPFUL
Rated by Participant: 31B1763EC795EBFAE6E9F16575FC00EF7869FFD5DB9162C080EB7B5D604ED4A9
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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