Birdwatch Note Rating
2023-10-08 23:31:12 UTC - NOT_HELPFUL
Rated by Participant: 4B67910AD0967377C572B903EC9BC58239ADB2DA95E1B519E49CD4785C828C7D
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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