Birdwatch Note Rating
2023-03-19 03:26:50 UTC - HELPFUL
Rated by Participant: 7FCCB5FFF9D74869C84C551D2B1CEB7347EF2A1E8986CF06DB98224FE3BB9D32
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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