Birdwatch Note Rating
2023-03-18 23:20:41 UTC - HELPFUL
Rated by Participant: 8A98D86223707883B4FD53D0DB958BB7168EFEE708B12B57EE247987E57C968F
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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