Birdwatch Note Rating
2023-10-10 01:48:50 UTC - HELPFUL
Rated by Participant: 96EAF8AC3C701F79FFB93F9F23EDB8B24DD5D78700D71EDF5F02286CAFDD4236
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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