Birdwatch Note Rating
2023-03-19 07:11:30 UTC - HELPFUL
Rated by Participant: 4438851351536F88F65240B204E4D7BDC3A68B7D3D1A82C8CEA9B9D1CB514291
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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