Birdwatch Note Rating
2023-03-19 06:16:07 UTC - HELPFUL
Rated by Participant: ADBFA8C53D99BD27A05099ACB65F266F91CEB2A838270D70507217CBE2323E7B
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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