Birdwatch Note Rating
2024-05-20 19:43:27 UTC - HELPFUL
Rated by Participant: 5614EBA5386AA534D2E982EC84146821FEBF947084FA80A3819F5FB1A8EC41F6
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Original Note:
Billionaires in the top 0.001% pay an effective tax rate of about 40%. https://academic.oup.com/qje/article/133/2/553/4430651 Lower and middle quintiles pay a federal rate between 0 and 7.5% according to the CBO. https://www.taxpolicycenter.org/statistics/historical-average-federal-tax-rates-all-households The stat in this video comes from misallocating corporate taxes to the rich and excluding EITC for the poor. https://www.econlib.org/american-economics-association-reaches-a-new-low/
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