Birdwatch Note Rating
2023-02-11 13:36:33 UTC - HELPFUL
Rated by Participant: DA915E69F09764EAA87495F277AA3A175050F7C3439CBEF5BA0280018EA198AE
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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