Birdwatch Note Rating
2023-12-02 03:27:20 UTC - NOT_HELPFUL
Rated by Participant: 87F6B3ED732B52832F93ACF3CC611B13D859F4FA034F8EF72A81C3948DB49B68
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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