Birdwatch Note Rating
2023-03-18 22:25:10 UTC - HELPFUL
Rated by Participant: E1AA79AE893CE6313A4A8A2A84D7E2A5E95E55DCD004920FE813F628AB5BBF59
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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