Birdwatch Note Rating
2023-03-19 04:36:19 UTC - HELPFUL
Rated by Participant: C8AA44FD0951A298D1499A3408775BCCCE74D29D12B31AB5B236FB6FC44642DD
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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