Birdwatch Note Rating
2023-03-18 21:19:27 UTC - HELPFUL
Rated by Participant: 4C0BA263CE628B5CBD09B0448A55D0D5A1B1B8759E91D5DA8F3DA62C5719B0B6
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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