Birdwatch Note Rating
2022-09-09 02:30:23 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 4622648311F3C77490AA2F82655E94D641D55CD8AB9E032DB1C9666E1D12C2CC
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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