Birdwatch Note Rating
2023-03-19 05:25:37 UTC - HELPFUL
Rated by Participant: BEE8A850CB91328648199F505964191B0A752B7305CFCFE9E13522318DE18C9A
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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