Birdwatch Note Rating
2023-03-18 21:28:43 UTC - HELPFUL
Rated by Participant: 5C4C050902A5FFAC60A473B13FF8BDAB2D4F71FA7FF04973486B03B151057D88
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