Birdwatch Note Rating
2023-03-19 07:05:29 UTC - HELPFUL
Rated by Participant: 55A12A68BD0137799ED3313A0CE5B018D34CF6733EFEA1957A23891B90DBB5C7
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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