Birdwatch Note Rating
2023-03-19 06:56:32 UTC - HELPFUL
Rated by Participant: A9BCC7E4855BB7CD72F5A1544958A725E16F86A649EBB9C394B6EC9D4A32F5F5
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