Birdwatch Note Rating
2023-10-09 07:33:02 UTC - HELPFUL
Rated by Participant: 4DB1872E441238BB00EBB1EB5DD145AE8B8A79C84399607027601FB24E1BE010
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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