Birdwatch Note Rating
2023-02-11 06:56:27 UTC - NOT_HELPFUL
Rated by Participant: 7DAF7E766C91C4681BD9E35A65ED1244CD021FD7E551BF6AB85D6DF31D7EAC10
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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