Birdwatch Note Rating
2024-10-14 18:08:38 UTC - HELPFUL
Rated by Participant: 3F1F2525004BE320078CFA1ABC472727DF6B879F078CBC17C672C8DE36B446A6
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