Birdwatch Note Rating
2023-10-09 05:59:00 UTC - HELPFUL
Rated by Participant: 405BCEF250A803F421B68F1C6C70C34C2231374EE6D4A4CF3018482E05DE4CF4
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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