Birdwatch Note Rating
2023-10-09 04:44:26 UTC - HELPFUL
Rated by Participant: F5B8DDA778D1B28B3BE21F68D228DAB6B197BCF8B43A8940A7E80E9B921D4995
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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