Birdwatch Note Rating
2023-03-18 23:49:00 UTC - NOT_HELPFUL
Rated by Participant: 6B47883B81C632D900FCBE2393D4F2056D14C236C3BE3B8E703CBBC675FE2E74
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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