Birdwatch Note Rating
2023-10-09 09:20:30 UTC - HELPFUL
Rated by Participant: 69D68B347A19BAC082AA2853AE8086628E70F6609B72367DA23044D56C6E7632
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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