Birdwatch Note Rating
2023-03-21 03:50:40 UTC - HELPFUL
Rated by Participant: 82D0CAFADD0730B3E466E2CA5023F49884F3418329CADEDC28B35C6DE7F2119E
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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