Birdwatch Note Rating
2023-03-19 06:25:57 UTC - HELPFUL
Rated by Participant: DDF769A3D3197A8C5388A9E3938E7AB00A799AA46E3542393365898E873ABEFF
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