Birdwatch Note Rating
2023-03-19 19:32:28 UTC - HELPFUL
Rated by Participant: F77F013D8D515C92B96A9BB7066D0AE63013B5D982A62AD2802521A5FCCFFB9B
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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