Birdwatch Note Rating
2023-03-19 20:08:01 UTC - HELPFUL
Rated by Participant: C5DC3F826AA4DA2006DE848C9FE37D2F289B0E55B27E1A011E43C75B3CC97CE8
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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