Birdwatch Note Rating
2023-03-19 06:36:27 UTC - HELPFUL
Rated by Participant: BEC6F213E37795DB9680CE529815D2AFD88895B6F71C87C13F904A7B63186AF5
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