Birdwatch Note Rating
2023-03-19 06:59:46 UTC - SOMEWHAT_HELPFUL
Rated by Participant: EA7117203600043FA75737F770EF4F34AD06645D5EB6062198938B69D0A146C0
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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