Birdwatch Note Rating
2023-03-19 06:53:28 UTC - HELPFUL
Rated by Participant: 48379395461C558A6DA90A8E430683518267084F36B2FAD676CDED2EA70CCCAE
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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