Birdwatch Note Rating
2023-03-18 21:30:11 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 581BC5AF06B0D58B21048CBB6CF9F4DB6AB50A352254D061D9B89C814444AA00
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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