Birdwatch Note Rating
2023-03-19 06:36:40 UTC - HELPFUL
Rated by Participant: 5E66E3B5E444E0EB52DCA9565276D7D40E91DEB6373A1FC3A5A19417C16AB10D
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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