Birdwatch Note Rating
2023-10-09 04:39:16 UTC - HELPFUL
Rated by Participant: D6BDC5FEEF50A38EE3E6D825E8925F1547690B9B2433E799D46660B3161C9EAA
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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