Birdwatch Note Rating
2023-03-19 00:53:16 UTC - HELPFUL
Rated by Participant: 40AB8166C2AAA56C7EC3E3D2F7727A56DEDBE00AC64DEE799EE72793E835C0C0
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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