Birdwatch Note Rating
2023-03-18 21:24:03 UTC - HELPFUL
Rated by Participant: CE6FC07EB28AD5A66E8A232359AA7F5E1CC62917F16811A6BE71B6A181B4E876
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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