Birdwatch Note Rating
2023-03-18 21:25:12 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 84891DEB9A5480CEF286F62B359AFA51859C7F8ECA53810011E3652C3DAE2782
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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