Birdwatch Note Rating
2023-03-19 12:35:36 UTC - SOMEWHAT_HELPFUL
Rated by Participant: C10392D8E6FE1D14CAA6579FA486847D84EA682A51154FC225BB9C6D18148E19
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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