Birdwatch Note Rating
2023-02-11 15:35:43 UTC - HELPFUL
Rated by Participant: 9A3AB0A900E24E1516BD1816CBDC7877BC63872999D131C7023BB3CDE3971545
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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