Birdwatch Note Rating
2023-03-19 07:01:15 UTC - HELPFUL
Rated by Participant: 9A42335BAB7CCD9BC8F3C8BF4965CCA4EB498F58A751F7433B7B72667C733D64
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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