Birdwatch Archive

Birdwatch Note Rating

2023-11-30 23:18:26 UTC - HELPFUL

Rated by Participant: 30FBBC061C967C0C72E1AC1497F9A7D837371E7CE7DFF98040132447DE990FD8
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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