Birdwatch Note Rating
2023-03-19 06:57:36 UTC - HELPFUL
Rated by Participant: 6DED5D6582FC048017B78C16C4F6CFF32E25A17DC0A16E5E1763920801097BE4
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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