Birdwatch Note Rating
2023-03-19 18:05:28 UTC - HELPFUL
Rated by Participant: 5D5D05B877F4628973A51457D048DBD3B8B7A9BD04463515B2832C7BCAA9CD0E
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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