Birdwatch Note Rating
2023-03-19 04:27:28 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 53898DB17ECDDB8648EEF935CB6A549F98569E6619DAFF240C313863886015F6
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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