Birdwatch Note Rating
2023-02-11 22:16:01 UTC - HELPFUL
Rated by Participant: DE7D33D81F4E532C14BF7867ED4AE2FB603A18B34322C221BCBAF84414DC42A3
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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