Birdwatch Archive

Birdwatch Note Rating

2023-11-20 11:44:51 UTC - NOT_HELPFUL

Rated by Participant: 3DF7D484734336D46F80AAEBA7B0FAF1FD4A414F5A4F889BD317A4517BA8A5A8
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Original Note:

Tax cuts were offset by rises in VAT from 8% to 15%, petroleum taxes, and excise duty raises. High inflation pushed people into higher tax brackets leaving personal income taxes roughly constant. The real value of taxes rose by 7.5%, helping trigger a recession. https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/1982/br82mjsm.pdf

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All Information

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