Birdwatch Note Rating
2024-10-14 15:59:03 UTC - HELPFUL
Rated by Participant: C1D9B2EAA54F01E87DA08F46D738BC9634170E4E99FB0DE84CCFDB6FB4CD7608
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