Birdwatch Note Rating
2023-02-11 08:54:16 UTC - HELPFUL
Rated by Participant: 03950D2D81EA03103D148BDFCF24027B3D3236912AE84469B9CD425B1A1F5757
Participant Details
Original Note:
The implication that billionaires are paying a lower tax rate than teachers or firefighters relies on conflating real income (predominantly in the form of wages), and asset appreciation. Such asset appreciation is already taxable under current tax law upon realization. https://www.whitehouse.gov/omb/briefing-room/2021/09/23/new-omb-cea-report-billionaires-pay-an-average-federal-individual-income-tax-rate-of-just-8-2/
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