Birdwatch Note Rating
2023-03-19 07:20:12 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 98F35D30FE610DAE8F4F4B2CBF6E4B33117436CAF1B64DA6C2532164DE99A7FE
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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