Birdwatch Note Rating
2023-03-19 06:06:12 UTC - NOT_HELPFUL
Rated by Participant: 35D651CF8858F9914968D32BF35F349A7846C278CD2D09D4AF6CBE50B1577653
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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