Birdwatch Note Rating
2023-10-09 03:50:43 UTC - HELPFUL
Rated by Participant: 5132DDCE5A4F64B96C25C31FB48C044484B9E52E660917D3223C809F2213ABDC
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