Birdwatch Archive

Birdwatch Note Rating

2023-12-01 03:55:26 UTC - HELPFUL

Rated by Participant: DE03BEAC2B7A699EC1DEAB1BD2F88D28D20B157FB3F5FB57608C4C4C686C9DEA
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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