Birdwatch Note Rating
2023-11-20 09:51:47 UTC - HELPFUL
Rated by Participant: 7AC6467AFFDF039995FFBF2085CAD8234AD7F492E8CAA49B469BB041A751F45A
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