Birdwatch Note Rating
2023-03-19 06:06:29 UTC - HELPFUL
Rated by Participant: D8BA4B82C1EAFB1BA50B716E6E1119E1EDCBAB8B1FDF8DE82CE94ED8EBC99D86
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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