Birdwatch Note Rating
2023-10-09 00:11:14 UTC - HELPFUL
Rated by Participant: 8988CE60EBBC7FBD86004FB31C503CE9DE6B8957F3F353C901056BA1187256B9
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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