Birdwatch Note Rating
2023-12-01 12:56:04 UTC - HELPFUL
Rated by Participant: 586B3DB53F0F2D8840706DF716F5AEB67F88EB0E7B103CCD27F4518A26B15A3F
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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