Birdwatch Note Rating
2023-02-11 08:22:26 UTC - HELPFUL
Rated by Participant: 0CEA48FE9389E658DEB269F5D60BCB56E648FCE37FFEB42146DDDF3DB8357B5B
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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