Birdwatch Note Rating
2023-10-09 12:32:26 UTC - HELPFUL
Rated by Participant: 160077E9623FC9ED17F35AF8BA9AD31671A2ABB11F8A11A568AE667EBD033DF6
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
All Note Details