Birdwatch Note Rating
2023-03-19 19:52:26 UTC - HELPFUL
Rated by Participant: 4FE2B85C01BEBA4DDF2F77E677C269B5629F47BA63C4FD9ABDAC27D2576D9B75
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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