Birdwatch Note Rating
2023-10-09 06:05:00 UTC - HELPFUL
Rated by Participant: AA5DD7521A1DFE48F002E06DA656EC789D594AD029E8D95374E44FCEF852A179
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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