Birdwatch Note Rating
2023-03-19 19:52:26 UTC - HELPFUL
Rated by Participant: F1087E630C151682D47600ACAE97A5947120BB252FD0FD067C37D916CD2DD8BA
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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