Birdwatch Note Rating
2023-12-02 00:29:01 UTC - HELPFUL
Rated by Participant: 77D9626939D6A6D75CB956C8A4A50DDF62D06DCB274B03CD164DBD4C599349D0
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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