Birdwatch Archive

Birdwatch Note Rating

2023-12-01 19:02:33 UTC - HELPFUL

Rated by Participant: 9E7AD08F9B17FF88CD8ECD2FDCADAD0D7E77348B84EDD4C51A8E603A56EC8CAA
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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