Birdwatch Note Rating
2023-03-18 22:11:10 UTC - HELPFUL
Rated by Participant: F1D67D5B0F8E25197719AF5F81FF3B9DEDC2F30761B70367ADA9AB431FB38592
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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