Birdwatch Note Rating
2023-03-19 06:41:34 UTC - HELPFUL
Rated by Participant: F2F8D9C2139DC792517264A1AE1BCF0C7105D42187C74FB38897AAF881FDE5BA
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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