Birdwatch Note Rating
2023-03-19 07:08:12 UTC - HELPFUL
Rated by Participant: D6FCA359B55C3069C79231449371D84D64E345BC14E412BCA82CB5CBE84B625E
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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