Birdwatch Note Rating
2023-02-11 02:51:07 UTC - HELPFUL
Rated by Participant: 85AC7301D7E2CB8F5EDC78697F61303C5987A4FB7D54BF9B6B3397372A650DEB
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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