Birdwatch Note Rating
2023-03-18 21:36:38 UTC - HELPFUL
Rated by Participant: 377BB5EA35F6ABBC960E6E0B241C122E253993187FAD7B48BF91CC08FFD0485A
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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