Birdwatch Note Rating
2024-05-20 00:03:46 UTC - NOT_HELPFUL
Rated by Participant: BA03437B60B8AD3A7D64AF1E6503339F3CE4430CAB0817CA0887366A2AE5BE45
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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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