Birdwatch Note Rating
2023-03-19 06:56:42 UTC - HELPFUL
Rated by Participant: 6C57F117F3117D20C554C0E3D3E834D6BFA61001AE0BF43E7F2883777D2E07C0
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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