Birdwatch Note Rating
2023-12-01 01:23:21 UTC - HELPFUL
Rated by Participant: E395E1F043522BF48180590D1D7EEBD945FC169E38A0AA1713BFA30B2537F648
Participant Details
Original Note:
While the top marginal tax rate on earned income is 37%, the effective tax rate on billionaires is much lower, possibly as low as 8%, due to tax rules favoring passive income and investments. 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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