Birdwatch Note Rating
2023-03-19 06:23:08 UTC - HELPFUL
Rated by Participant: C7B7509032DBF01E6A429402ACE6A10618109241D0A5E533F3D89A8E469BB3E1
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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