Birdwatch Note Rating
2023-03-19 07:45:47 UTC - HELPFUL
Rated by Participant: 5D16679CF9B198CCC14D507B83FDEB2BF70C58A52F134D7918122AE23263D003
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