Birdwatch Note Rating
2023-10-09 01:53:32 UTC - HELPFUL
Rated by Participant: 697F7A4199E4CC2F49DB0317C84DB026902B5CCF803E1F47C46D2B2933C95189
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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