Birdwatch Note Rating
2023-03-19 19:02:56 UTC - HELPFUL
Rated by Participant: 7D35904501D49A86693907EA84B1B38AB7A9FB3221FB9F03B0B982989DEF8583
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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