Birdwatch Note Rating
2023-10-09 03:37:59 UTC - HELPFUL
Rated by Participant: E27B1A793F638B9B22799B37679A78AE2090D63E9E81BCC8A9F6DCCF0B11EA7D
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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