Birdwatch Note Rating
2023-03-19 05:25:37 UTC - HELPFUL
Rated by Participant: AE8E9D47B2011167B3DDD4CAD4E2F710568C80696FD57FE7F5C0F22F0BD194F9
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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