Birdwatch Note Rating
2023-10-09 10:29:40 UTC - HELPFUL
Rated by Participant: FDCA16A05A51FD8F729C654224C2996031D75B6869C34DD610742B055E281CC5
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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