Birdwatch Note Rating
2023-03-20 05:54:34 UTC - HELPFUL
Rated by Participant: 19F7C0A4E1633A58B3F83B400D8C7D1B2DE4432C0AF7D1813D31D2529717A33B
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/
All Note Details