Birdwatch Note Rating
2023-03-19 07:15:59 UTC - HELPFUL
Rated by Participant: E85ABC01E617EC44D5C902B45EAAB2293A95E20377FDB843E93F229BC97A6065
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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