Birdwatch Note Rating
2023-03-19 06:05:23 UTC - HELPFUL
Rated by Participant: 6F60C9380BCC0C33A9494B857CF8A5A34859CCCDACD088811602ED6DE4A06216
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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