Birdwatch Note Rating
2023-03-19 04:46:38 UTC - HELPFUL
Rated by Participant: 7FFE0704F4E938771E060B08400D72CE8F489BC12BE942352157867F0E4F362B
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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