Birdwatch Note Rating
2023-03-19 06:08:52 UTC - HELPFUL
Rated by Participant: A84002A0B6C1A2405793E491F243A462AAD0A0F097EE6DF657BC5F59E9A1FA80
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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