Birdwatch Note Rating
2023-03-19 18:44:32 UTC - HELPFUL
Rated by Participant: 8772C388A7C91167AD018150425D43B7F512D8E1A0B1AC1CBBF6D5A32C1FBC10
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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