Birdwatch Archive

Birdwatch Note Rating

2023-10-09 12:25:13 UTC - NOT_HELPFUL

Rated by Participant: 00CB6F08864A3F79FFF55AFBCC7FC57A1BBB5424C90EA8AC8049386FD6BEA8CF
Participant Details

Original Note:

Biden is referring to an alternative minimum tax (AMT). An AMT requires people to include certain types of income that are exempt from the regular income tax and removes some exemptions and deductions. Even with a 25% tax rate, this could increase taxes for some billionaires. https://www.cbo.gov/publication/41810

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