Birdwatch Note Rating
2023-03-19 19:42:06 UTC - HELPFUL
Rated by Participant: B01CB0679D9269BF153119BFF077BFAB98EB7D3207F638A911F9AD40AEE7DE5E
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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