Birdwatch Note Rating
2023-03-20 21:04:12 UTC - HELPFUL
Rated by Participant: F15BCCEC4C8237E8B3F9BAA86CADFDF9ED74FFFE30AD3DCAD658F0050CD9FF3B
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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