Birdwatch Note Rating
2023-03-19 02:11:22 UTC - HELPFUL
Rated by Participant: 4B40390E80A06D19466533EF4DCFD3F5E693928594DFDFB11DA2C3797DF071FA
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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