Birdwatch Note Rating
2023-10-09 00:12:27 UTC - HELPFUL
Rated by Participant: 6FCDF1291368065EAF24923F244C97B21144B1FA10AC9269EFBDC0A91FFCBAFB
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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