Birdwatch Note Rating
2023-03-19 06:06:15 UTC - HELPFUL
Rated by Participant: 6CF435BDEDF253A3C9A1BE5D152B27B84E6CB213E9AB1F51DC6790343B4EB2E3
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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