Birdwatch Note Rating
2023-10-09 03:22:30 UTC - HELPFUL
Rated by Participant: 45ED77416EBE5786A6140E097338824FFE0477521DFA2B9C13309330A7BB30D2
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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