Birdwatch Note Rating
2024-10-14 15:32:24 UTC - HELPFUL
Rated by Participant: 88EDBCD9355FF00185C889BFF5FAD4DD8BBF7FBAC043E8552DE93A62FB803E28
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