Birdwatch Note Rating
2023-03-19 07:02:12 UTC - HELPFUL
Rated by Participant: D9CD98CF5AA0879E64FA1395C6DA7381B02EA16DFB56C6DAAF30A393712ACA6B
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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