Birdwatch Note Rating
2023-12-01 02:31:42 UTC - HELPFUL
Rated by Participant: 217D126E6105D2B6B81145BB2E3D99AF95F60D9C627AB14063960AC5D64AF91C
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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