Birdwatch Note Rating
2023-10-09 01:11:24 UTC - NOT_HELPFUL
Rated by Participant: 71B5464CFFF624445E28D3959247E1787D80D6EBDACC57BFA9298305D91F1C03
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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