Birdwatch Note Rating
2023-03-18 23:48:26 UTC - HELPFUL
Rated by Participant: 9599130F6EB22D62AF27D94DCAF107A3CDE332EB5A1DD4C002A7251B6AFFC31F
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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