Birdwatch Note Rating
2023-03-19 07:11:40 UTC - HELPFUL
Rated by Participant: F2B150638A09E060E0C82E846243B7796BBEF95F195F259C10118FB1591BA30D
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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