Birdwatch Note Rating
2023-03-19 03:20:21 UTC - HELPFUL
Rated by Participant: FFF69D67772D36A4F36656044618362E9F92C97215AE481562C63DDA012D42D4
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