Birdwatch Note Rating
2024-10-14 12:50:22 UTC - HELPFUL
Rated by Participant: 9501166E97EE6EB81A4CD27BA3C360FF6B34EF521F147C173DAAD28BD5799F93
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