Birdwatch Note Rating
2023-03-19 07:45:47 UTC - HELPFUL
Rated by Participant: 8D97D04D1561660769BAFF48B645B4F890AAD761BE65B620B948385AAEB497D5
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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