Birdwatch Archive

Birdwatch Note Rating

2023-12-01 01:14:10 UTC - HELPFUL

Rated by Participant: 041AB2833B149DE8C1C273B02D9AC1E84808C21C057C54573832698DCB225A4C
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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