Birdwatch Note Rating
2023-02-11 14:07:55 UTC - HELPFUL
Rated by Participant: F8AF5A54B2E2DDABC431D9927820885070D60AEC02B230D8F39B0326D1FAAC0D
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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