Birdwatch Note Rating
2023-10-09 05:37:31 UTC - HELPFUL
Rated by Participant: 2AAE62B132EBFF052B3F625D2A3D818408EE4709B492AFBB8B7AEB0705D1ED92
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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