Birdwatch Note Rating
2023-11-30 22:58:09 UTC - HELPFUL
Rated by Participant: BFC55DDEA9E55587C1DAB326BA2D6884B3A26CF8E6F57B6BCBF220888B13B3F8
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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