Birdwatch Note Rating
2023-03-19 02:29:38 UTC - HELPFUL
Rated by Participant: AE1A90EDEEC23933B6369A2C0E74BF24C4C046393F37CA82FE772D4D70633F60
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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