Birdwatch Note Rating
2023-10-09 03:02:49 UTC - NOT_HELPFUL
Rated by Participant: 37ACA53EE39311C0299944A9F243FCC6C5440A3A029D7F4F55F6DF8E6E0FE70C
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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