Birdwatch Note Rating
2023-03-18 21:48:44 UTC - HELPFUL
Rated by Participant: 7D155CFF522E58E317A1A2B72BC5E488F1252BF74DCDB2F56F0459E99AAF883E
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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