Birdwatch Note Rating
2023-03-19 19:23:11 UTC - HELPFUL
Rated by Participant: F74AF44723C6F700651E52C73966FE12A00F8E3511E7D883007A35C7C88F03F0
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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