Birdwatch Note Rating
2023-02-11 14:19:21 UTC - HELPFUL
Rated by Participant: AA9F90B08FEF0ECEEC62FE5AB796648B75459C663CD60E6B3CD64B3C552A88AB
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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