Birdwatch Note Rating
2023-11-30 21:44:09 UTC - NOT_HELPFUL
Rated by Participant: F6700CE6C398D88F68989BD0B4936602C790E4F7DAA7C6B0AB49AE53BD11CCC4
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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