Birdwatch Note Rating
2023-10-09 14:23:43 UTC - HELPFUL
Rated by Participant: A2CACEDB6DAFE7E08CD704EBF8D9B8E8F90EEB72D798D3C1EFCA608910D5D519
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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