Birdwatch Note Rating
2023-03-19 06:58:46 UTC - HELPFUL
Rated by Participant: F6D3A5542A96B82B0990695880C98D6B6914B45838ED6CB9D5F7B2EA19FC378E
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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