Birdwatch Archive

Birdwatch Note Rating

2023-03-17 00:40:27 UTC - NOT_HELPFUL

Rated by Participant: C56A36C700ED6315E6BB86C1C3479C4729D6689986F6E670E22BFE4BCD7A7659
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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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