Birdwatch Note Rating
2023-03-19 00:43:15 UTC - HELPFUL
Rated by Participant: DA59844365F3AE4613ED8318916525394AB0B95D4B1504B0946B3FABAAECEACB
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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