Birdwatch Note Rating
2023-03-19 07:18:57 UTC - HELPFUL
Rated by Participant: 5F736B23646EA3C1141ECABD80236607172245E1B0147A5353266C4694F82E5B
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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