Birdwatch Note Rating
2023-03-19 06:59:46 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 3F6F0650F692D3FDA812D4D37E28F51E56BE81B4B9D49334C4962022B1440788
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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