Birdwatch Note Rating
2023-10-09 02:38:30 UTC - HELPFUL
Rated by Participant: BD526406F9FEDA8BB36872A1047F6514E8F3CDDACB82E33EB251F3E016C42E83
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
All Note Details