Birdwatch Note Rating
2023-03-19 03:33:22 UTC - SOMEWHAT_HELPFUL
Rated by Participant: A5A4C6DDD91A2C5A03A2A29A2CA467CFD90EF6D8C349B8D8F303BA2EEB61217B
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