Birdwatch Note Rating
2023-02-11 06:41:45 UTC - SOMEWHAT_HELPFUL
Rated by Participant: ADF517EE2ED6B2E065B61CAE12EA905812522FEC99B21E4A199266F914FFC09F
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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