Birdwatch Note Rating
2023-03-19 04:59:52 UTC - HELPFUL
Rated by Participant: 3A826AE7CFECD3F6BED2EBA37FE7882C5A0E37AE34F94C69C21C31B43F466444
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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