Birdwatch Note Rating
2023-03-19 19:28:05 UTC - NOT_HELPFUL
Rated by Participant: 4A55FD16CE63F3AEB97DBD0371EEBE0B176A31E440E2F1210770B1852C898A84
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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