Birdwatch Note Rating
2023-03-16 02:23:54 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 4ED1002871E7C4C4CAA3A3FFAC6C8D5E55A9CCF8D653FE2374B2CB7AC5CA8B66
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