Birdwatch Note Rating
2023-12-01 14:31:51 UTC - SOMEWHAT_HELPFUL
Rated by Participant: CBE292C0C936D6836CFEDD2D59F534FED649197B3E3C113C3AF4C69DAF5493FA
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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