Birdwatch Note Rating
2023-12-01 03:27:55 UTC - HELPFUL
Rated by Participant: 24620BE08840C8756D9FCC5D4B564EAACACAB9D9EBDFD3BB08A6DC3263E0CACE
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
All Note Details