Birdwatch Note Rating
2023-03-19 19:44:09 UTC - HELPFUL
Rated by Participant: E8F748EF9D4E8FE0914088F76325681FC29B7AADC7B040B4AB1C3CF27799AC55
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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