Birdwatch Note Rating
2022-04-28 01:30:28 UTC - HELPFUL
Rated by Participant: 075AC9D644928C11AFA1E4449C17D9276CF582AF3655B93F2A8F7F9E4DCB29A8
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Original Note:
The denominator for the 3.27% tax rate includes unrealized capital gains. While they do represent wealth growth, capital gains are only legally required to be taxed in the U.S. when they are realized. Using only the denominator of taxable income, Musk's tax rate was ~27%. https://apnews.com/article/personal-taxes-business-ab6466a9dcc211907a753ccfb7660959
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