Birdwatch Note Rating
2023-10-09 11:50:36 UTC - NOT_HELPFUL
Rated by Participant: FA8F0D099278C668C668756C22B0AAF27A04F3AF6D3059C19A9C6B828CE0E56E
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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