Birdwatch Note Rating
2023-03-19 19:48:08 UTC - HELPFUL
Rated by Participant: 38A612F6137DA92FE8783B7F581562E5F3B0418B0E30922598FC5B37A63BDB70
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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