Birdwatch Note Rating
2023-10-09 20:12:43 UTC - HELPFUL
Rated by Participant: 85F39B3D7B1AD76C3D7235F276656C6CB87DAB2061E5498EAB67A7901B999D91
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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