Birdwatch Note Rating
2023-03-19 00:14:09 UTC - HELPFUL
Rated by Participant: 6A83409C133C4ECDBCC5A0E8484C184327927EDCB1EDC19D9888E3E96F157E0D
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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