Birdwatch Note Rating
2023-03-18 21:42:29 UTC - HELPFUL
Rated by Participant: B8D20C7849642B537E6D0F8E7EA2B68449FF001C999FCA74416C5EF46354F340
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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