Birdwatch Note Rating
2023-03-19 19:32:36 UTC - HELPFUL
Rated by Participant: 392BAB0C90CC46ED4BE4C28D8D7ADB740313642CE49A22F62B7BDF7D20AC3EAE
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