Birdwatch Note Rating
2023-03-19 06:23:40 UTC - HELPFUL
Rated by Participant: 4547D1B2985F5BB6F6028FE77EBEF96038D32BFFE5185FA4334C098B9F62CE56
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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