Birdwatch Note Rating
2023-10-09 03:08:50 UTC - HELPFUL
Rated by Participant: 48D3995BA7F0D01EFA7C25736204C1EA0D3168909621E46473CE2724AFDE8304
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
All Note Details