Birdwatch Note Rating
2023-10-09 01:18:33 UTC - HELPFUL
Rated by Participant: 14D85BB6878B7E818F222D1F21023FC95504FE7C5559624A3BDD82A81D8DD928
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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