Birdwatch Note Rating
2023-10-09 16:31:56 UTC - HELPFUL
Rated by Participant: CBC5B110E89403A2EDF6C2B103E94B820A7BB175206BD0741E046684A6E43348
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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