Birdwatch Note Rating
2023-03-19 18:51:28 UTC - HELPFUL
Rated by Participant: A36050221521B61040E9B2C6750F87340D67CEB4D54C5920C4F1C23F277305CC
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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