Birdwatch Note Rating
2022-09-08 18:35:10 UTC - NOT_HELPFUL
Rated by Participant: A227869B752DF62F7538C29F2D2D225BAE499F3095FF33A985D81DD1C622A0E8
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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