Twitter community adds a context note to Joe Biden tweet: The official Twitter account for the president tweeted, “We don’t have to guess what MAGA House Republicans value. They’re telling us.” The tweet included an infographic that said “We think Congress should cut tax loopholes that help wealthy crypto investors ($18 billion) VS MAGA Republicans think Congress should cut food safety inspections ($15 billion)." Twitter added a label to the post that read "Readers added context they thought people might want to know.” The added context read "Virtual currency is treated as property and general tax principles applicable to property transactions apply to transactions using virtual currency. When investors sell virtual currency they must pay tax on any capital gain. There is no evidence of 'Loopholes' to avoid this." The context note also included a link to an IRS article to support the note. The label is part of Twitter’s Community Notes system. Twitter users are able to sign up as contributors to add context to tweets.
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