Birdwatch Note Rating
2024-11-29 06:35:15 UTC - HELPFUL
Rated by Participant: 00960C33DA260793F88BA597EBF699A9FF87824012B55A0824B1A2F9412645CA
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Original Note:
The US government ran a $1.7 trillion deficit in 2023 Billionaires received $1.8 trillion in income from 2010-2018, taxed at 8.2%, so even a 90% income tax on billionaires for 8 years wouldn’t cover the federal deficit for a single year. https://www.cbo.gov/publication/59727 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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