Birdwatch Archive

Birdwatch Note Rating

2023-12-01 03:17:26 UTC - HELPFUL

Rated by Participant: AF4BFFA70FFDE89C8955254A2B37B65D96C5C98327998C88BD84F589EF448FF1
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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