Birdwatch Note Rating
2023-03-19 17:58:01 UTC - HELPFUL
Rated by Participant: 4E837F7BD5CB42435CDAEB00C6EF03225A70BD7B0F65874039428DB325804BC4
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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