Birdwatch Archive

Birdwatch Note Rating

2022-09-07 17:29:00 UTC - NOT_HELPFUL

Rated by Participant: DB835EE09E208271F1AE42AA00D8490D
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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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