Birdwatch Note Rating
2023-10-10 10:02:06 UTC - NOT_HELPFUL
Rated by Participant: BCE3D36DB6083E7B4D5B8CC1307132B87274DA637E8D51894D30B2A4D0B4CA06
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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