Birdwatch Note Rating
2023-03-18 22:06:55 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 4A022E6EE7BC32EF105E49B5A5780C760BA54FCE5B1369CAB3F910DD01E41A03
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