Birdwatch Note Rating
2023-12-09 09:00:55 UTC - HELPFUL
Rated by Participant: 135E89448F5D193A70B3ED09A7B89664EC1299BE5599E44C8F87D7D864D0B4DD
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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