Birdwatch Note Rating
2023-03-18 22:25:06 UTC - HELPFUL
Rated by Participant: EFD04B66A204BDF8E104522A0D36AB4567EA74D6943CA4C5318E3FC05BBFB19A
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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