Birdwatch Note Rating
2023-03-19 06:45:29 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 971A2B84E6A4977E872F04416902BF5D3BD6B0A533188550BA4D778148CF696F
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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