Birdwatch Note Rating
2022-09-08 00:53:42 UTC - HELPFUL
Rated by Participant: B385EF974C05D1AF2067A02CE55CA6A64FEC771D6F4A0DDDDA8F8EAF709BE4E3
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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