Birdwatch Note Rating
2023-12-01 03:58:40 UTC - HELPFUL
Rated by Participant: FCA6E526AE829C26CB9E98295C9D35EE49DA5E5E9D1ABD179C9BA9CF8C2848BA
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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