Birdwatch Note Rating
2023-11-20 11:41:15 UTC - HELPFUL
Rated by Participant: 48616240C4A41A73D9AEA1681B3EEB1317339726DA5164CF478A5C3A67A86BF8
Participant Details
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
All Note Details