Birdwatch Note Rating
2023-10-09 05:37:22 UTC - HELPFUL
Rated by Participant: 1041F6A8D4D135C48242B5AB3D526B8D900423DD64B26BD44D16D5C4BFB8A847
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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