Birdwatch Note Rating
2023-03-19 19:34:58 UTC - HELPFUL
Rated by Participant: 4735AA622FF98EF779EC8568E86FBAAB34EC769A87C28AA31A8F08EFE0E6AD0A
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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