Birdwatch Note Rating
2023-03-19 18:08:21 UTC - HELPFUL
Rated by Participant: BA25D181540D7ADF7636DA03F38F96A6ABFDE41479B6FB659296CBECD99310D0
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