Birdwatch Note Rating
2023-03-19 06:33:57 UTC - HELPFUL
Rated by Participant: EA6D339DB8CC95CDE0F55B593BFD8D2D95AD07951E965EDC6C20FCEA70B86ECF
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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