Birdwatch Note Rating
2023-03-18 21:42:21 UTC - HELPFUL
Rated by Participant: 7E883265AFA8F03A9713DD141D7E121799E6B8229404FA82494F563E1F660B00
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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