Birdwatch Note Rating
2023-03-19 07:00:18 UTC - SOMEWHAT_HELPFUL
Rated by Participant: E0066EC16F3B924F930CDFC3741BB7208176403ECF2AC86A16C789F54075FE70
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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