Birdwatch Note Rating
2023-03-19 06:16:55 UTC - HELPFUL
Rated by Participant: 69291B38132CB8F1388F5D9B2FF27EE744B3C9C9E1EE83BB653D434093F54603
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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