Birdwatch Note Rating
2023-03-19 12:48:06 UTC - HELPFUL
Rated by Participant: FDEA154EF3227D1F3137BCBC77611E3FED3AD16AF6C883338FF3A8646AD2A648
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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