Birdwatch Note Rating
2023-03-19 18:43:36 UTC - HELPFUL
Rated by Participant: 8DE134DDD4A3EB773617443A4629DDCA8907A51C78C2A66A2A46C532DCBBFAF7
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