Birdwatch Note Rating
2022-09-08 04:20:22 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 2233465F30D9B405DFF1399C5902316C
Participant Details
Original Note:
The middle class is not paying 3 times the tax rate on earned income as billionaires. Biden is referring to unearned income which comes in the form of unrealized capital gains. An unrealized gain is an increase in the value of an asset that an investor has not sold. https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-taxing-wealthy-americans/ https://www.irs.gov/pub/irs-pdf/p15t.pdf
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