Birdwatch Note Rating
2023-03-19 06:05:16 UTC - NOT_HELPFUL
Rated by Participant: F16AF35249BE9EC22DE36B3EE990C6E1AEB1A5844B87D546E029137F2E46D69D
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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