Birdwatch Note Rating
2023-03-18 22:57:15 UTC - HELPFUL
Rated by Participant: 56C695E95DFD6AE8546EA9DC7EAF5C4A23CFFAF4692C95FD07798890479B4CBA
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