Birdwatch Note Rating
2023-03-19 06:17:00 UTC - HELPFUL
Rated by Participant: D442981E4721EE931C4183379876A98AA6055B20675C1AEFF8F7E961AC29401F
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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