Birdwatch Note Rating
2023-02-11 14:24:16 UTC - NOT_HELPFUL
Rated by Participant: 1F23E6DC5C8D7E04F3438B24A68FC3C2ECE3E62949B42C5EBBE7AA117E3B8FEA
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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