Birdwatch Note Rating
2023-12-02 11:19:18 UTC - NOT_HELPFUL
Rated by Participant: D752977825D7D32B37B11AECF6CCE2986777E95A506AB09FFB743681D9867CA6
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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