Birdwatch Note Rating
2023-03-20 09:09:47 UTC - HELPFUL
Rated by Participant: C20808FFE40682B2852A7EF4507E6440B221A15C5580924C206E242ECD6ACBA1
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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