Birdwatch Note Rating
2023-10-09 02:46:41 UTC - HELPFUL
Rated by Participant: FB72928FEF7BC5C220EB1D8DB3E174CE8040783D7A24A70E21F7BA1C8B09982D
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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