Birdwatch Note Rating
2023-03-20 01:08:22 UTC - HELPFUL
Rated by Participant: 220AD438DDFD28C3F48A436F416A2B45F8C4F7D5E0619354A785F7570BA84695
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