Birdwatch Note Rating
2023-10-09 06:55:07 UTC - NOT_HELPFUL
Rated by Participant: A22E4A8D863FE23E11999F68E6644D97DB4DCFEFE113A763E808530EDBEB313E
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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