Birdwatch Note Rating
2023-03-20 01:43:01 UTC - HELPFUL
Rated by Participant: A7B6F2CEFDC6C20DCF74E8FB24F2253E328C3224EC6B0FA953D181B7CFDC78EA
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