Birdwatch Note Rating
2023-03-19 06:22:21 UTC - HELPFUL
Rated by Participant: A5874B8B127C230D6A46105AF7898EF7946993F5D0E166BF73FE4527B78FF933
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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