Birdwatch Note Rating
2023-02-11 06:41:45 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 961DCA3D0C0DF12A504F77E9C00B3DDB7B847AE5C6427B14068509BA054C74CE
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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