Birdwatch Note Rating
2023-12-02 13:52:14 UTC - HELPFUL
Rated by Participant: 56F93E9777B7AE4403A6DB0C08E629A007A971A15755D8C2723438A22F9A00BA
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