Birdwatch Note Rating
2023-03-19 16:07:23 UTC - HELPFUL
Rated by Participant: C4F4E65030D725D1C25D31EB34C11B9F446300417CC327C0635379B9E48C90E3
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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