Birdwatch Note Rating
2023-03-18 22:58:21 UTC - HELPFUL
Rated by Participant: A22719BE889F8A6B885D96DD64B65279FF800113013A68FF23B5108C6C415F06
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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