Birdwatch Note Rating
2022-09-08 00:41:02 UTC - HELPFUL
Rated by Participant: 37339023CDA499EF6A7836148176D29498F2E179D266C731D9F34175CC39C4C7
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
All Note Details