Birdwatch Note Rating
2023-03-18 21:25:02 UTC - HELPFUL
Rated by Participant: 3789A97F22591773EFB9AD4F3A8A6891480EF9B669DB2EBA7399D4AA46D3BAB6
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