Birdwatch Note Rating
2023-03-19 05:40:15 UTC - HELPFUL
Rated by Participant: 691EA3E32891E9577B35F12C32E7409808B83F780C7F5ACBA8436CFE78673E4B
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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