Birdwatch Note Rating
2023-03-19 06:56:01 UTC - HELPFUL
Rated by Participant: 708967CAAA543914B88F08F9481FA234F73E509A73BF4ED005AACC3C755ABA3A
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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