Birdwatch Note Rating
2023-03-19 01:57:39 UTC - HELPFUL
Rated by Participant: FD9E59FB4D26FAF07CBE473DBCEA06141514A2460D4941970B2E94726D3DB5A5
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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