Birdwatch Note Rating
2023-03-16 06:08:46 UTC - HELPFUL
Rated by Participant: 18B51F87481AB31C7A9311DBC6EE8E589128F72866F6B52C7CDBB5CB04304C9B
Participant Details
Original Note:
The 8% tax claim comes from a theoretical calculation that would include unrealized capital gains (increase in the value of unsold stocks) as income even though it isn't taxable under existing federal law. (Taxes now legally occur only when stocks are sold for profit.) https://www.cnn.com/2023/02/17/politics/biden-economy-facts-first/index.html https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/ https://www.whitehouse.gov/cea/written-materials/2021/09/23/what-is-the-average-federal-individual-income-tax-rate-on-the-wealthiest-americans/
All Note Details