Birdwatch Note Rating
2023-03-16 02:46:01 UTC - HELPFUL
Rated by Participant: 5932058E1388DBF09E0D5D12B09C8D3ADC638BDDD702C7B6AC12A12BC4EC87D7
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/
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