Birdwatch Archive

Birdwatch Note Rating

2023-12-02 09:37:07 UTC - HELPFUL

Rated by Participant: CEFA31382E5E7935582537E0D5959A58F2E19B3F66E04BD0DA18549878FB3088
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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