Birdwatch Note Rating
2023-10-08 23:45:18 UTC - HELPFUL
Rated by Participant: 67FADFFF15214610FD8476045855FD88DD06E144443142639E9A9316BD609853
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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