Birdwatch Note Rating
2023-12-03 14:36:11 UTC - HELPFUL
Rated by Participant: AE8E9D47B2011167B3DDD4CAD4E2F710568C80696FD57FE7F5C0F22F0BD194F9
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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