Birdwatch Note Rating
2023-03-20 05:38:23 UTC - HELPFUL
Rated by Participant: C65ADAFADF76B7AD2E88D209A3EDD70A9FA82F55E026867B4DF28D6F2FCFF71E
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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