Birdwatch Note Rating
2023-11-30 23:21:01 UTC - HELPFUL
Rated by Participant: FE47AAA8BEA24E55C3144400AAF89D3D4B96FDC4F6797BB9D2CD8D61AEF0167E
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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