Birdwatch Note Rating
2023-10-09 18:25:06 UTC - HELPFUL
Rated by Participant: 15D17384FA0AD6CB0506EDAB4D7B92C22986D96C0E80D4CF86B59293F3F3AF50
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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