Birdwatch Note Rating
2023-03-19 06:39:44 UTC - HELPFUL
Rated by Participant: 4747966046542C781FAC4AE6E130940D3B678CB141C11784808613199495AD9B
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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