Birdwatch Note Rating
2023-03-19 18:05:22 UTC - HELPFUL
Rated by Participant: 643E1793B5BF5AF4F6FBEB244BEEF669906F168A2183AA2AD7EE06BF9247B87B
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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