Birdwatch Note Rating
2023-12-01 10:58:59 UTC - NOT_HELPFUL
Rated by Participant: 215AD2C582ACB6F6DFB6C16FF9745A76D6BBFEE1DF29603BCB1BFF64537C4CBE
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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