Birdwatch Note Rating
2023-03-18 23:32:02 UTC - HELPFUL
Rated by Participant: 3DC372726C39159C4EAAEED16C0E58C94313F051A219F7C99518AFD517467C6E
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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