Birdwatch Note Rating
2023-10-09 06:55:21 UTC - HELPFUL
Rated by Participant: D5813960FBBC892C0965DEFA27BF404E527872ABD2DC5693738C993A5ED7B5C2
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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