Birdwatch Note Rating
2023-03-19 19:22:58 UTC - HELPFUL
Rated by Participant: 8B4C24109FD51C160D0CCC43885CDEFE6CD43679093D4BD988F2C7159E1FAF71
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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