Birdwatch Note Rating
2023-03-19 13:36:54 UTC - HELPFUL
Rated by Participant: F6FCB4BAC72DE8415E0C746BC7F1DE9DA8BF0F6F2356A3F032722BF7CEA2521D
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