Birdwatch Note Rating
2023-03-19 06:04:48 UTC - HELPFUL
Rated by Participant: B960C10794021DAB8B247AFE34E09C3521FE0C39A46327FD66AF7A66CAE898E5
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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