Birdwatch Note Rating
2023-03-19 18:52:36 UTC - HELPFUL
Rated by Participant: 428623A5FF34D84E80A24ABBDF7CA0172D651EDE15467024FAF20EF7C21F0AF8
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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