Birdwatch Note Rating
2023-03-21 07:19:16 UTC - HELPFUL
Rated by Participant: 5F44BE0A574D1FD3B2745F391F6A6C1BF0414FE0A0447EC2FE91E3B60318EF70
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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