Birdwatch Note Rating
2023-03-19 06:57:36 UTC - HELPFUL
Rated by Participant: 4B1AFE509A9896A6FE8AE7B5F1E2F41664734FA985DF2F44BD7D686F2EC2A16D
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