Birdwatch Note Rating
2023-03-19 18:19:08 UTC - NOT_HELPFUL
Rated by Participant: 3A6AE3CB78C4DA7FE5517F27CD5E37085D287A799FFEA50CC442268FF21E552E
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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