Birdwatch Archive

Birdwatch Note Rating

2023-12-01 22:19:21 UTC - HELPFUL

Rated by Participant: 319A176B533435E77A2A9C2B17C4A04C240C006637D2E59941DDCC4B35E2A606
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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