Birdwatch Note Rating
2023-10-09 13:41:17 UTC - NOT_HELPFUL
Rated by Participant: 0C333ECDEAFE5D9DF6D733CEE4FDB8FBC329DC7CBCC5F50ECA89BC37F3F2DA85
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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