Birdwatch Note Rating
2023-02-11 06:49:01 UTC - HELPFUL
Rated by Participant: 22FE524D2C2393C30EEA72520C0C67CF69C3B92FD2A25E9462F460133648C6B6
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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