Birdwatch Note Rating
2023-03-19 07:49:28 UTC - HELPFUL
Rated by Participant: 32DEC74B3464A8F2FCE82E666A7EFB18238192C0DFC3B6ED9AE23EB7F931E1CA
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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