Birdwatch Note Rating
2023-10-10 05:31:43 UTC - HELPFUL
Rated by Participant: F16CE5AEA2C21D42E392C8AD8AD9BF3F874D2C4A9EF9CAF0E3F78DECE79AD27D
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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