Birdwatch Note Rating
2023-10-09 12:02:37 UTC - HELPFUL
Rated by Participant: 3F16276136FFCF1479954DE68158BB817A0F3E3CD823CB340A38AC8DC0BF833C
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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