Birdwatch Note Rating
2024-10-14 16:07:11 UTC - HELPFUL
Rated by Participant: 199DAF44A64A8249C4B61DE91F662284E2EC97DB43914A4A6B61DFFD3EA3908D
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