Birdwatch Note Rating
2023-12-08 17:27:16 UTC - NOT_HELPFUL
Rated by Participant: 783DBB0ED0E2F059527124EEBBCF5CD6A3118B8E0C8760397EF99286C64A121C
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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