Birdwatch Note Rating
2022-09-08 05:32:28 UTC - NOT_HELPFUL
Rated by Participant: 2596E24FBDE908EC87FB8EBD6DB38506FD8A5895E6BAB92300C85A90A603FDC4
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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