Birdwatch Note Rating
2023-06-20 10:55:57 UTC - HELPFUL
Rated by Participant: 38DBDFDCC24AF7870149B51F87369CA87DB52523574B26217C620A21B0E77BB3
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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