Birdwatch Note Rating
2023-03-20 09:44:13 UTC - HELPFUL
Rated by Participant: 4B30683D8D271F71A0509BD43790D0805BECBF8F25E08DF9AD0FD62553E89C2D
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