Birdwatch Note Rating
2023-02-11 14:32:56 UTC - HELPFUL
Rated by Participant: 71B23FEC186198CC97528CAC2471B271FA4519CF54563E2D91F1610D1DE1893D
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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