Birdwatch Note Rating
2023-03-19 13:36:54 UTC - HELPFUL
Rated by Participant: C638FAEB91AB61CCCA35CFA5BBEAF8CA7EAF9698AD5B15E806033788153CF24D
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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