Birdwatch Note Rating
2023-10-09 14:10:10 UTC - HELPFUL
Rated by Participant: F250172D36A6036B64C3301DE2AE67A309352CFA4D61D8F4026B274176BB7BFA
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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