Birdwatch Note Rating
2023-02-11 08:54:16 UTC - HELPFUL
Rated by Participant: 434311AAEE46F84B8A2873B5BC797EF34CE9F420C767541CF1FF8E38CFA0DF53
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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