Birdwatch Note Rating
2023-03-19 02:51:34 UTC - HELPFUL
Rated by Participant: 5D6518620D7DEAC0EAAF7CEA338D17E8F99DE1E0E10C776B3693855CE9AEE3D2
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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