Birdwatch Note Rating
2023-03-19 06:24:14 UTC - HELPFUL
Rated by Participant: 859A8E3CF3F91F442BCB0C921C2F1AAD5DF2E2AA93DB0C6B81C563DCE6DA166F
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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