Birdwatch Note Rating
2023-03-19 01:19:37 UTC - HELPFUL
Rated by Participant: E078F045BE579D4544E278232DB439C687346070A176C464D12DC21174D560CC
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