Birdwatch Note Rating
2023-03-21 04:22:52 UTC - HELPFUL
Rated by Participant: AB6920F2186C1A47C2105E0A818C56A5D296972F1BC037AD98E4D020EE922B7D
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