Birdwatch Note Rating
2023-02-11 13:06:27 UTC - HELPFUL
Rated by Participant: D3A37A4A0F53E06B739AFAA11E911F99DA202A55D60B1060F367C8662BDB2502
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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