Birdwatch Archive

Birdwatch Note Rating

2023-12-01 17:33:52 UTC - HELPFUL

Rated by Participant: 07500BF937D981B2F4D3B0B9AC2C891419A4C1603D0A3CF087B84512777B87FB
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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