Birdwatch Note Rating
2025-04-07 11:45:22 UTC - NOT_HELPFUL
Rated by Participant: CB9F393A34638B9F828CD3CECBFEE70787CB694EE2C9530A30205A34DBE1B71B
Participant Details
Original Note:
Post misleadingly compares $36B annual wealth tax to $500B market loss.Tax is a recurring cost on unrealized gains; temporary market loss isn't deductible unless realized. Tax forces cash payment, reducing liquidity, not paper wealth. Loss doesn’t directly offset tax liability. https://www.irs.gov/taxtopics/tc409 https://taxfoundation.org/research/federal-tax/harris-administration-tax-proposals/ https://www.bloomberg.com/billionaires/
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