Birdwatch Note Rating
2023-03-20 01:35:26 UTC - HELPFUL
Rated by Participant: ABEA9C9E9E7CBA15A4DE30094372C4D5A2A5646E52CA38BB9132D73B71EE63EA
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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