Birdwatch Note Rating
2023-10-09 09:58:41 UTC - HELPFUL
Rated by Participant: 4D1F861F7D534B61F95F3399786CA5387D09A6AD826982D9C43770BC86C729F2
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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