Birdwatch Note Rating
2023-03-19 05:47:59 UTC - HELPFUL
Rated by Participant: E2F54060A8B3C508C01A2F578EAB2A65FB6CDBEBCB8845F1E9B9FC7C9622769F
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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