Birdwatch Note Rating
2023-02-11 13:36:33 UTC - HELPFUL
Rated by Participant: 4888DD03916E34BF1D5A26F1F086934F7B78BFC7C8B1D28BA8E6C239DE506FB3
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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