Birdwatch Note Rating
2023-03-18 22:50:08 UTC - HELPFUL
Rated by Participant: 7365824D3167C3034DD99411648A90342C40B4851D0F0FE3303DDDF19329AFC6
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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