Birdwatch Note Rating
2023-03-18 23:20:41 UTC - HELPFUL
Rated by Participant: 5AE6437DBAB5CD8840611CF9EB16D034891B2BA163F09DF7ECCD37D99B28B0BB
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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