Birdwatch Note Rating
2023-02-11 09:51:00 UTC - HELPFUL
Rated by Participant: 8413633E576A4D72316DCBCC16DD6B9362C24EB27398FCD7DBA90B344D27F010
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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