Birdwatch Archive

Birdwatch Note Rating

2023-12-02 15:58:12 UTC - HELPFUL

Rated by Participant: 09BB463EBBA255FCA79FDA25A3EBACAA97429F4424EF007CDFEB7DA0F744B2F4
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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