Birdwatch Note Rating
2023-10-09 06:42:56 UTC - HELPFUL
Rated by Participant: 2F0F941A6E154CA2F1223520AEAB5C722AC9813E8A1B833E01D22A4473872427
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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