Birdwatch Note Rating
2023-03-19 06:43:33 UTC - SOMEWHAT_HELPFUL
Rated by Participant: C7F6D4414D125B901002BC96E4A700EA774D4E1A66F539159A52F6503D71DBD4
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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