Birdwatch Note Rating
2023-10-09 07:29:40 UTC - HELPFUL
Rated by Participant: F4B0CFE5E0A1A0D4250161A6FD9DA7B7BE2268586058B65B5F1439B0BB1FA2F7
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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