Americans for Tax Fairness
Case #
6313

X community adds context note to think tank's post: The Americans for Tax Fairness official X account posted, "BREAKING: Billionaires and centimillionaires held $8.5 TRILLION in untaxed, unrealized capital gains in 2022. Unrealized gains are the largest source of income for the ultra-rich—but they're completely UNTAXED under our tax code. This is why we need a billionaire income tax [thread emoji]" along with a graphic that claims that "the bulk of the capital gains of the super-rich are never realized and never taxed." X added a label to the post that read "Readers added context they thought people might want to know." The added context read, "Unrealized gains are not income or earnings, can not be spent, and are not guaranteed until they are realized, at which point they are taxed. Taxing unrealized gains is a widely discredited concept that many tax experts believe would be both impractical and ineffective. taxfoundation.org/blog/biden-bil… wsj.com/articles/unrea… taxpolicycenter.org/taxvox/dont-tr…." The label is part of X’s Community Notes system. X users are able to sign up as contributors to add context to posts. X owner Elon Musk recently shared that any post with a Community Note added to it will be demonetized. The Community Notes account on X also posted to explain that notices will now be pushed to users that previously engaged with a post about any Community Notes added to it after the engagement.

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