Birdwatch Archive

Birdwatch Note Rating

2023-12-01 00:16:59 UTC - HELPFUL

Rated by Participant: C973438BDF87930DFB508463C62DA9DB31E7341FC24D18F7E108A20E40B38604
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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