Birdwatch Note Rating
2023-11-20 21:39:15 UTC - HELPFUL
Rated by Participant: AB6BDD2968345B92D6E4319F2E851ED3B4AF7C6FA61C210B986305704FB9ACB5
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