Birdwatch Note Rating
2023-03-19 06:20:59 UTC - HELPFUL
Rated by Participant: BA83192B039DCC1FC18C5998F8A711323B8DB883DF803C5F6B8659FFAD91CC2F
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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