Birdwatch Note Rating
2023-03-19 02:26:44 UTC - HELPFUL
Rated by Participant: 98BE6F1F8E9D1B846190154B8C3ECA0ECE48555E3D3EBE045E0A98E97B9F4CD2
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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