Birdwatch Note Rating
2023-02-11 05:41:14 UTC - HELPFUL
Rated by Participant: 7431C0A5FDEB922D3241843D62E61C8A347B06518A8F493670C8318243A98F03
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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