Birdwatch Note Rating
2023-02-11 05:51:55 UTC - HELPFUL
Rated by Participant: 927F011D7BAC5EEBA27C0655A4C212B81CF1542F40632F2399CBA56C59D666D1
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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