Birdwatch Archive

Birdwatch Note Rating

2023-12-01 01:12:26 UTC - HELPFUL

Rated by Participant: 4D80EFA5EA553B4C24CD34D4E3162CB4B51C32F0991D40F32F87E525BB4F3BD0
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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