Birdwatch Note Rating
2023-02-11 15:35:43 UTC - HELPFUL
Rated by Participant: 0DF531447D3A9175D09DF8F94F7E123EE65860085F7674A7E78FBA3E52BDB08D
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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