Birdwatch Note Rating
2023-11-30 23:27:06 UTC - NOT_HELPFUL
Rated by Participant: 9947EF56129FC24023691FB22AA6660795C5EB8AC5E5CFEBD27F56453DD5A407
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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