Birdwatch Note Rating
2023-03-18 22:14:32 UTC - HELPFUL
Rated by Participant: DC6C6F0824DDB8F9A36DF61F106DC74E7C07309F5B51E4DB588108F1ADC3256E
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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