Birdwatch Note Rating
2023-10-09 06:58:39 UTC - NOT_HELPFUL
Rated by Participant: 747C20440FDC33350281A16C1A6F64D5A2EEFB59FBA1E3113E20204BC4584FCC
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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