Birdwatch Note Rating
2024-10-14 20:38:01 UTC - HELPFUL
Rated by Participant: 016AB10003FF4007D1DF609D7246F34DFBE4454808F008243B6891DD670B6C43
Participant Details
Original Note:
The image says "$50,000 for Entrepreneurs to Start a New Business." The proposed deduction means $50k *would be deducted from the amount they owe tax on*. The average taxpayer paying a 22-24% marginal tax rate would save $11-12k, not $50k. Tax deduction explanation: https://www.irs.gov/credits-and-deductions-for-individuals
All Note Details