Birdwatch Note Rating
2023-03-19 18:56:47 UTC - HELPFUL
Rated by Participant: 584F6C4E1DCB210C3D1B8DCD8A7890C952979E3CF489D53D8AC74B668F668260
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