Birdwatch Note Rating
2023-02-11 08:37:44 UTC - HELPFUL
Rated by Participant: 41B01931D4C72DD6A1EC32A32FCC41F3C7FC56E03F9AB025F18780ECA37911C0
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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