Birdwatch Note Rating
2023-03-19 01:17:21 UTC - HELPFUL
Rated by Participant: EE418A5B74937A9409ADF9DF322DFADD098A2A9A95F8F45E01DE23355FFBF468
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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