Birdwatch Note Rating
2023-02-11 14:38:19 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 5B66C2C2840AD455FDAC3D1F25BF92AD35DB04D16E6BE11F99C2E62BAC83F418
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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