Birdwatch Note Rating
2023-03-20 05:55:54 UTC - HELPFUL
Rated by Participant: 87594720B0CA4B2C7AB1D4AF80421E22C7296279A4FDB4A4104E353BC422FA4A
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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