Birdwatch Note Rating
2023-12-01 10:06:36 UTC - HELPFUL
Rated by Participant: 02F0B2CCD074A5C345490A8A4FA83152906E69A7CCF152D9BCDADC218FCDF7D2
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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