Birdwatch Note Rating
2023-03-18 21:44:23 UTC - HELPFUL
Rated by Participant: C73B71748088561280292538FF5A03FD29CBD76D6C91015DD4E4E5E33302D43A
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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