Birdwatch Note Rating
2023-03-19 06:03:59 UTC - HELPFUL
Rated by Participant: AB9FF049A12732ABF05BF0CFC33E57C8585F859484DA25B8CB0B74B0DDC6BE77
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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