Birdwatch Note Rating
2023-10-09 00:02:06 UTC - HELPFUL
Rated by Participant: EEF7E9B2C8D78BAF71350AC5043BF94AAA936E1862A3EB0D963212D184EA719F
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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