Birdwatch Note Rating
2022-09-08 07:39:48 UTC - NOT_HELPFUL
Rated by Participant: 350BE403B7DAE268FB8851118A39F36D9C21A40B067CA3A0ABC97F980D1B839E
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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