Birdwatch Note Rating
2023-03-19 18:29:04 UTC - HELPFUL
Rated by Participant: C199EB10B5E2DA18EF572476FF9977B859958A1BD661B7CCD59E95C2AA206EB2
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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