Birdwatch Note Rating
2023-03-19 19:58:46 UTC - SOMEWHAT_HELPFUL
Rated by Participant: B4BFC578DFD640B1CB08818A52271D8ED662A73892E193CB5D9FAF0A63C2DC18
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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