Birdwatch Note Rating
2023-03-19 07:17:49 UTC - HELPFUL
Rated by Participant: C63F4814215ADD246D71A24A4C3B6181826A512D80ED9BC9213702BA5783E4EE
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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