Birdwatch Note Rating
2023-03-19 19:41:51 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 742D9D8F0C21806902399707F4DEFBEE5649976BF024EA7F3DAA0D0AE0CC4E71
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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