Birdwatch Note Rating
2023-03-19 12:12:35 UTC - HELPFUL
Rated by Participant: 4769BFA51D1228C811674F5E02FD234C63EA0B60B6DA5ED27E5EA4BC2B799E79
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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