Birdwatch Note Rating
2023-10-10 02:17:05 UTC - HELPFUL
Rated by Participant: EABEE8931E7DB616E4A283EB33647008459D97262929BC1FD4C2C6EF2400E2A8
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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