Birdwatch Note Rating
2023-03-19 19:59:59 UTC - HELPFUL
Rated by Participant: 8413633E576A4D72316DCBCC16DD6B9362C24EB27398FCD7DBA90B344D27F010
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