Birdwatch Note Rating
2023-10-09 12:10:50 UTC - HELPFUL
Rated by Participant: F6700CE6C398D88F68989BD0B4936602C790E4F7DAA7C6B0AB49AE53BD11CCC4
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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