Birdwatch Note Rating
2021-10-29 05:14:22 UTC - NOT_HELPFUL
Rated by Participant: 7DC04C4EBE6E720F40139EB09454058383F88B33038D521941454480499532D1
Participant Details
Original Note:
Even assuming the fiscal impact to the budget is net zero, raising taxes imposes costs on those taxed and hampers growth. The spending incurs costs by competing with private activity and contributes to inflation which reduces individual buying power. https://en.wikipedia.org/wiki/Transfer_payment?wprov=sfti1 https://budgetmodel.wharton.upenn.edu/issues/2021/6/28/explainer-capital-crowd-out-effects-of-government-debt
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