Birdwatch Note Rating
2023-03-18 21:22:38 UTC - HELPFUL
Rated by Participant: 6A97A52610768D75990B462D5CBC7755FD593CABAFC933F59A878D0CAF3EA197
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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