Birdwatch Note Rating
2023-03-20 09:06:53 UTC - HELPFUL
Rated by Participant: C6A6AEAC86EB4CDCE31D6471A8D0FE3544E478A7B2C743C9972C58FF6EC5DCD2
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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