Birdwatch Note Rating
2023-03-18 22:25:03 UTC - HELPFUL
Rated by Participant: 6962754B16975308393A146CB2415F7F73870A4C85912660A78951B9D3943DFF
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