Birdwatch Note Rating
2023-03-18 22:16:41 UTC - HELPFUL
Rated by Participant: ABEF1A4D6F7E096B3A7FD1E18EA729066BA5B332710ACA2BF3CFC12FC4BA2D38
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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