Birdwatch Note Rating
2023-03-18 21:24:38 UTC - HELPFUL
Rated by Participant: FD4CEF1D7A54A392F055C4C996A101F0C2E52DD93BABAB2924452DC0FD5C84E8
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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