Birdwatch Note Rating
2023-03-19 06:00:48 UTC - HELPFUL
Rated by Participant: C8830B1461B92FF909E960219AF2230347AF831BD3A00A50C06D7C3F8A423F58
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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