Birdwatch Note Rating
2023-03-19 18:57:15 UTC - HELPFUL
Rated by Participant: AF99DA26182D7A85F5D98675CAAF3D83C39D0EEA82249EF07E905AEA8E8C41C1
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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