Birdwatch Note Rating
2023-02-11 08:37:44 UTC - HELPFUL
Rated by Participant: 84F792911FC601BE681ABEFBACCF3FFA51643AFD8F91BDE8D4D3BEF9BF473260
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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