Birdwatch Note Rating
2023-10-09 12:24:14 UTC - HELPFUL
Rated by Participant: B6C712E1144343A358DB905CC1255101AA304A099059D88D18F094A3B55F1245
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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