Birdwatch Note Rating
2023-12-01 11:17:51 UTC - HELPFUL
Rated by Participant: 6411705A5C55B5B105085C0A6DE362BCB800BF7BF59C0A3F855B1D4A8C60B0BE
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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