Birdwatch Note Rating
2023-03-19 06:05:23 UTC - HELPFUL
Rated by Participant: FF614092EC4515405AEAB3A01A50673CFBC895CFBB1651631E7DA7A69F2D406B
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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