Birdwatch Note Rating
2023-03-19 06:52:06 UTC - NOT_HELPFUL
Rated by Participant: 3DD84AA789E2A5FE20A5CB1FF1C169D152404F6FC8FCE1225976EDB8D583E556
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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