Birdwatch Note Rating
2023-10-09 03:10:06 UTC - HELPFUL
Rated by Participant: 0F59E3BDBAA281441F90B7AC00590434B087564E3E946B230A6E84D521EF0C03
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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