Birdwatch Note Rating
2023-03-21 19:30:28 UTC - HELPFUL
Rated by Participant: D6B70E54946F9B524EB917C45D9A5FD629196B2602CA9A05943771AC171BB345
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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