Birdwatch Note Rating
2023-03-19 18:21:44 UTC - HELPFUL
Rated by Participant: 87B29F6355DFED8F1F5E6052C579F27784236A5A85EBEB9A24CFFD5C2D6B333A
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