Birdwatch Note Rating
2023-03-19 18:05:58 UTC - HELPFUL
Rated by Participant: 66FA676006BF9225C1F8756B30A8D190543D5A5E58269449CA5496DA77A8031D
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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