Birdwatch Note Rating
2023-10-09 03:59:34 UTC - HELPFUL
Rated by Participant: 86FC8962390CCFA59A015054DADDE2A88661272DC994688CF9E00AC5494C50D3
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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