Birdwatch Note Rating
2023-03-20 21:04:12 UTC - HELPFUL
Rated by Participant: 5A5C24148E3DA860956EAE6EC5AE4D3DB0DFC514BAF609404639B2F342E0765B
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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