Birdwatch Note Rating
2023-03-18 22:49:24 UTC - HELPFUL
Rated by Participant: 7E16675F3F1F3A95E34446667D8909D7ADE92819B705736850A2B85BA0C43355
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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