Birdwatch Note Rating
2023-10-09 02:55:40 UTC - HELPFUL
Rated by Participant: E2DC48007D649DAC819E500DF35D6F58BFA7F65C0735445F709607330DC72193
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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