Birdwatch Note Rating
2023-12-02 12:24:16 UTC - NOT_HELPFUL
Rated by Participant: 7995C3495B214B7873B9669020D2B0DEC3A6C313050B409D9A59ECD3DE11DBA5
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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