Birdwatch Note Rating
2023-03-19 07:04:37 UTC - HELPFUL
Rated by Participant: BFFC54638A8ECCBC86ACD847941ED17026C99EC8B93B3AEAF2933B3BD77C6C37
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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