Birdwatch Note Rating
2023-02-11 05:26:02 UTC - HELPFUL
Rated by Participant: D57B9607CA64D372E825D48B6611A1AF24042E3EF4D15CA8655211DF9F6ED006
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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