Birdwatch Note Rating
2023-03-19 05:53:10 UTC - HELPFUL
Rated by Participant: 9B46325BFE3F4D06703A3980F8A6258F929B8271B94145C4AF55DB0A27F1F4AD
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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