Birdwatch Note Rating
2023-02-11 13:17:29 UTC - HELPFUL
Rated by Participant: 704C3B57B225AFC934E908496BDCA152F5F93B98F67AE53C67E99BA45E5076FE
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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