Birdwatch Archive

Birdwatch Note Rating

2023-12-02 11:12:13 UTC - HELPFUL

Rated by Participant: AEB538D8D1854E9815DE432BE3245C43CEACF7CC5C33B006E2E1A0CD0FA08359
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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