Birdwatch Note Rating
2023-03-19 07:22:46 UTC - HELPFUL
Rated by Participant: C43633E6FDE08DED64B7BB2903B47972AB3FAC25B3129DB3C498FD1502109B9B
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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