Birdwatch Note Rating
2023-03-19 12:12:35 UTC - HELPFUL
Rated by Participant: 7F368616C307E2B6482A5575B068E0386ACD9A34EFC48884004344EEA5AFE8A5
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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