Birdwatch Note Rating
2023-10-09 08:00:33 UTC - HELPFUL
Rated by Participant: 681E76D8364A0DCC427C7F1F468E9314BF2BA371C70DFE7D86825FB43F2292F9
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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