Birdwatch Archive

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2023-10-09 01:42:35 UTC - NOT_HELPFUL

Rated by Participant: 73CC88725E3A9521BD27D5CD67AA0C2B92248819648110CC63CC8FB4CDB7BCA3
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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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