Birdwatch Archive

Birdwatch Note Rating

2023-10-09 11:49:49 UTC - HELPFUL

Rated by Participant: 99229E0B6511B46C715331AA098A4D773BDADE11F91F4DD5E8B20658ED123DA1
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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All Information

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