Birdwatch Note Rating
2023-03-19 18:56:14 UTC - HELPFUL
Rated by Participant: C79DC9C186DAF25AC1B52ED9AEFE54415B9861C22C27E5D484B16177A95F7530
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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