Birdwatch Note Rating
2023-02-11 04:31:49 UTC - HELPFUL
Rated by Participant: 142884B92E16F28D1BC840A3904A3C3811D793D0A74BA3F894C76CC666D183A8
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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