Birdwatch Note Rating
2023-03-18 21:29:52 UTC - HELPFUL
Rated by Participant: 5450AB59E6765874B980ABEC07675FC1857BF8D9ADD9186FEB99A733646648D7
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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