Birdwatch Note Rating
2023-02-11 02:51:07 UTC - HELPFUL
Rated by Participant: 27F45B11737E318FE6CA2ACF4A5D5A318F689F7E042F97B8D1972CB378ACCD17
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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