Birdwatch Note Rating
2023-03-19 18:49:05 UTC - HELPFUL
Rated by Participant: 88FBC9D9152B04FFFF863969D3C6D2D7986F5E79D054A7B7B144D55AE12A5B03
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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