Birdwatch Note Rating
2023-10-09 02:19:31 UTC - HELPFUL
Rated by Participant: E14643AE6126BC63D158CBE1B3587090F38FABF5541EE71FBC89F91D7CF88661
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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