Birdwatch Archive

Birdwatch Note Rating

2023-12-01 15:15:49 UTC - HELPFUL

Rated by Participant: B28E7D4FB9E2BB0E745D7CA4E0AE425B5C86901BB801CD71BC31BC9C0BBE3C04
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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