Birdwatch Note Rating
2023-03-18 22:31:19 UTC - HELPFUL
Rated by Participant: 8D863E6BDCB5FC79FBD564167A126D7E3181F0E92AB6B38EA59257DBE3EA0B92
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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