Birdwatch Note Rating
2023-02-11 14:15:16 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 982BCF9E5355C057F17BA6A721FDD4D0C4C363BCC2FA44415676FCAE6FF77D3C
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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