Birdwatch Note Rating
2023-03-19 06:43:33 UTC - HELPFUL
Rated by Participant: 83F42978263A2067FD87F0B512126BB21D7E64848D2D66B8FE14BE03F79AB7B0
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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