Birdwatch Note Rating
2023-03-19 06:46:17 UTC - HELPFUL
Rated by Participant: 42E632EFCB17E298C0DF9E1468574A4207DA602963D7632D8A427C5BD4CD8096
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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