Birdwatch Note Rating
2023-03-19 06:24:18 UTC - HELPFUL
Rated by Participant: A659B747D81E71F86DA86FC286240D8C4D12402A1B674E43A54F1E5BDF5B05AA
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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