Birdwatch Note Rating
2023-10-09 15:50:26 UTC - HELPFUL
Rated by Participant: 717C51BC8F92B22AE31422EC14774F7D891D5ADD620F9DE744F390C1B8969335
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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