Birdwatch Note Rating
2023-10-09 15:41:54 UTC - HELPFUL
Rated by Participant: B59A6E4D4BDD42FCE406124C9B7805D0CF1BC952E143B1CEFB2C6FD8AF62614F
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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