Birdwatch Note Rating
2023-03-19 04:59:52 UTC - HELPFUL
Rated by Participant: 6CE2E389D4909EC8BA6DDB7DE5AD9467BAFE3383DC3FA8032BCDF89428ED265B
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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