Birdwatch Note Rating
2023-02-11 10:13:34 UTC - HELPFUL
Rated by Participant: 11FE397EC801CB1DB044E608551FDC78E5942875BE1A8D30E97A12BD9BCA87CE
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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