Birdwatch Note Rating
2023-03-19 06:02:54 UTC - HELPFUL
Rated by Participant: E34C189E1E5DDD1A429D641C2DBC69E3F8A1D1E47D7B03746111392E5181F8EB
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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