Birdwatch Note Rating
2023-03-19 06:00:48 UTC - HELPFUL
Rated by Participant: F90DE357D7251C4EE06E9D9FB4BD8A69B1ADA4204C38521C90A77B2E8666449E
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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