Birdwatch Archive

Birdwatch Note Rating

2023-12-01 10:55:55 UTC - HELPFUL

Rated by Participant: 0E96F54A97F44A14E8738B2FF03961BF5A0BBF1B1372D7F9D5FA91A365AFB278
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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