Birdwatch Note Rating
2024-10-14 12:34:44 UTC - HELPFUL
Rated by Participant: A95341AF421A1EB4CFDF62A1D9C621E75669C82B730E985FA371E96EB377EC3E
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