Birdwatch Note Rating
2023-03-21 04:58:06 UTC - NOT_HELPFUL
Rated by Participant: 326FC1B0CE284C837B1E3E1D208659FD0C0B941014209179A266235BC7FF69B4
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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