Birdwatch Note Rating
2023-03-19 00:06:38 UTC - HELPFUL
Rated by Participant: 8EE4D7E1CFE39CB28F2142FE9867EDBE56DE3DB90C8F41AEB30AA363B4066500
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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