Birdwatch Note Rating
2023-03-18 23:01:52 UTC - HELPFUL
Rated by Participant: 97BA278ED28250BF11103CB9464DDB39E1949B2726B6989F32E5487DCB66586D
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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