Birdwatch Note Rating
2023-03-19 06:49:12 UTC - HELPFUL
Rated by Participant: 41D2EBFC67BE967AC8289BD2806141F984FC4C006BEC076729D06A2FF319BE95
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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