Birdwatch Note Rating
2023-03-19 04:00:05 UTC - HELPFUL
Rated by Participant: 5682E7349DE1259E78852C941C8CD61C9960BC132C713BA25B2CF70A3993F94D
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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