Birdwatch Note Rating
2023-11-30 21:56:34 UTC - NOT_HELPFUL
Rated by Participant: 019FD3ECA9719CF9ACB64359BC3E00A455A9D0EF579BA0DC4ED72376995FAE84
Participant Details
Original Note:
Europeans found that imposing punitive taxes on the wealthy was counterproductive. Wealth taxes encouraged avoidance, evasion, and capital flight. In most countries, wealth taxes raised little revenue and became riddled with exemptions. https://www.cato.org/tax-budget-bulletin/taxing-wealth-capital-income#complex-administration
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