Birdwatch Note Rating
2023-10-09 09:54:36 UTC - HELPFUL
Rated by Participant: 34F2C9E977C3ACC8A30DA1F50B142E867601C019A6D0D0F0E58A5CB0074C5734
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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