Birdwatch Note Rating
2023-02-11 01:27:30 UTC - HELPFUL
Rated by Participant: 9C76158AEE8C37D3111DD90F03F849B2A34EE7DE7FCA490FCAE52FC41F396796
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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