Birdwatch Note Rating
2023-03-21 11:57:50 UTC - HELPFUL
Rated by Participant: A24C9640388F8A859F49F0B6FDEA9B22AAEC9B4F0D8E74B0F6D845AE57B44CD9
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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