Birdwatch Note Rating
2023-03-19 06:30:33 UTC - HELPFUL
Rated by Participant: BF40202B215860B2418319822F6359B92E1FD4782C1D0C00A00144A015B3D7B9
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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