Birdwatch Note Rating
2023-03-19 13:33:49 UTC - HELPFUL
Rated by Participant: 44E7011CE0C96D7B0CD2C896A3AA1D9FE103F042E5F9B1EDFE0B1932D92F993C
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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