Birdwatch Note Rating
2023-02-11 02:56:27 UTC - HELPFUL
Rated by Participant: 08956573BB2DC88E23E98EE7F3B4E96E8DD83B6A4D0EBCA73CA0D23CA67550C1
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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