Birdwatch Note Rating
2023-02-11 08:22:26 UTC - HELPFUL
Rated by Participant: 36A42CD1DE1C85C62DF98F60E1C6F92A7919DF9EA1CA2118956C68ADEA483E80
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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