Birdwatch Note Rating
2023-12-01 07:39:00 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 8B8234D6C7EFEACB65F391FBE490D08D9A425BB246D7322811B2D7CCFD96B92F
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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