Birdwatch Note Rating
2023-03-19 00:28:49 UTC - HELPFUL
Rated by Participant: 95F9BD34FFE92D00E523C7CDA47DCE45114854799F5CC40A0493D9809BCC4959
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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