Birdwatch Note Rating
2023-03-19 00:28:49 UTC - HELPFUL
Rated by Participant: 9063A7424EFC881A3F9D881F375F541CEA6046007F0565E01F40F6B4F33EE97A
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