Birdwatch Note Rating
2023-03-19 04:14:51 UTC - HELPFUL
Rated by Participant: C16C0AF335B8AA615932F300DD88A0FD8895813D88C9078CC3D8DF5BCE4B14A4
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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