Birdwatch Note Rating
2023-03-20 01:49:08 UTC - HELPFUL
Rated by Participant: B4C4F53806F22FAA405FCD6C23E9070751850D852647065F40E14850F48440D2
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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