Birdwatch Note Rating
2023-03-19 00:40:25 UTC - HELPFUL
Rated by Participant: 733DB0A0590B67A426FA2C2D448DED48DAB5EAA373A5E094218BED5DCF94581B
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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