Birdwatch Note Rating
2023-10-10 04:57:00 UTC - HELPFUL
Rated by Participant: AB2A39980CC54985EDF922D9A9EB6F34525CC62C28425C74A1B6E8607462AADF
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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