Birdwatch Note Rating
2023-02-11 22:16:01 UTC - HELPFUL
Rated by Participant: EE990051E73ADF02455AB7EB2EA6DEBA7BFF41DBA9D645B5EE4ECCDB40E9D77C
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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