Birdwatch Note Rating
2023-12-01 05:30:52 UTC - HELPFUL
Rated by Participant: 5220ECB204355B9150423E2CD80352E56EF778ABBDE542AA24B647D9A161A34D
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