Birdwatch Note Rating
2023-03-19 07:18:57 UTC - HELPFUL
Rated by Participant: F800C8EE23D43FBCA25C6D935EC525792364156B0585E5099AFD5B30692CB572
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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