Birdwatch Archive

Birdwatch Note Rating

2023-12-02 14:16:12 UTC - HELPFUL

Rated by Participant: C19AE8FF4F2046835B217C7F196CEE226BDA819AD0871ED84C435953E543C0A7
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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