Thread by @caroljsroth

Important thread: MISINFORMATION and LIES

How does Twitter allow this tweet to stay up given their misinformation policy?

This is not only misleading, it is an intentional, egregious, bald-faced lie.

Read the thread for the breakdown.

https://twitter.com/POTUS/status/1536763927865991169

I saw this above tweet and went 8%?!
How do I get in on this sweet tax rate?
So, I went to the White House site + looked at their “study”
It was not based on tax records or even income (which is what is tax rates are based on).
The study said they included UNSOLD STOCK...

I was confused. What is income from unsold stock? Dividend rates don’t get you there, so what do they mean?
What they are using is not INCOME at all, it is stock appreciation, NOT realized.
This is a made-up proxy of a wealth tax.

This is not how income tax works, and it is straight up a lie to say this is an income tax rate for billionaires and portray it as an average tax rate of the "wealthiest"

Using stock holdings at some point in time and adding estimated gains to income is the equivalent of looking at the gains in the estimated value of your home and saying that is part of your yearly income.
This jeopardizes home ownership, business ownership, etc.

This is some “you will own nothing” grade-A bullshit.
Furthering the dishonesty, they took a one time event and used it to compare to yearly taxes.

This is intentional.
The media has picked it up. They want you to believe billionaires only pay a 8% income tax rate, which is false. They want you to believe it so you give them permission to pass a wealth tax, which they will promise won’t be used on you, but eventually will.

Effing nefarious.
Billionaires will find loopholes. The Biden administration wants to hire more IRS agents and lower reporting requirements to $600 (which they did in the American Rescue Plan for sites like Esty, Venmo, etc), not for billionaires, but to come after YOUR WEALTH.