Birdwatch Note Rating
2023-03-19 06:53:28 UTC - HELPFUL
Rated by Participant: 709BD6F95448E9A5FA3AA514297AFE8C3AB4E950F6B3668CD6CFBB27072F7118
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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