Birdwatch Archive

Birdwatch Note Rating

2023-12-09 12:31:09 UTC - HELPFUL

Rated by Participant: E580FB6E4CFFB1AF6B000111AB6B249102700F50D636CB4F26FB51780865D83E
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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