Birdwatch Note Rating
2023-03-20 08:26:42 UTC - HELPFUL
Rated by Participant: FAB71E08CCA37AF0B4800B2C765D217BBCB85C5DDB31C4F58817A0E9B06FF6D8
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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