Birdwatch Archive

Birdwatch Note Rating

2023-12-01 08:16:38 UTC - HELPFUL

Rated by Participant: 263E4705E58921EA0CAE5D1EBE7502AE1D3644625B92F44F04DAC022CF992C49
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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