Birdwatch Note Rating
2023-03-19 06:43:53 UTC - HELPFUL
Rated by Participant: DB47753E503709996CE2A4D51EDA7EC49618428B57BF902711A3B5CB4CEC28E0
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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