Birdwatch Note Rating
2023-03-19 07:16:26 UTC - HELPFUL
Rated by Participant: 758CE9DA2186F83277977D44468B204D9C79A9C7215A29395BAA918A00D6D240
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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