Birdwatch Note Rating
2023-03-20 08:26:42 UTC - HELPFUL
Rated by Participant: 81CDE1F76E7B2D1BF43D5786493D9897A48C9D40B58C68C4E7D97586DDD4D0A6
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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