Birdwatch Note Rating
2023-10-09 09:34:04 UTC - HELPFUL
Rated by Participant: D258F91B1EF750B739F00899219A92F9CF25AC7ADA1DA6511BE74D596D2CA894
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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