Birdwatch Note Rating
2023-02-11 14:07:55 UTC - HELPFUL
Rated by Participant: 359A1C0F15FD54F6DD37B32E66B27769402C4C3CBB2D5D348D4EB13689EC6D5D
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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