Birdwatch Note Rating
2023-03-19 03:20:47 UTC - HELPFUL
Rated by Participant: 837E1FF2991F992DDD94ACBFCD6A39937D219716048D457A1B14F03AC40128CA
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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