Birdwatch Note Rating
2023-03-19 01:54:33 UTC - HELPFUL
Rated by Participant: A4A31EE330D8D5B6A427D5AE8D6A5D4457583ACB8FEC12B3D47D1BC5CD1154BC
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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