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So true. They don't realize that the people buying these "toys" are supporting many people. Right on down the line to the dockhand fueling the yacht, the campground attendant taking reservations for an RV site or the flagger on the runway guiding the pilot where to go.
If it weren't for those "evil" rich, none of those others would have those jobs.
Those "toys" supported entire towns' economies. The laid off workers (due to less demand for highly-taxed luxury items) no longer ate out at their local diners, patronized their local dry cleaners, sponsored their towns' youth sports leagues, etc.
That luxury tax was an utter disaster and actually ended up COSTING the Fed Gov extra money instead of bringing in more tax revenue.
Quote:
"Job losses cost the government more than $24 million in unemployment benefits and lost income tax revenue. So the luxury tax actually cost the government money."
And it didn't just kill the American boat building industry and other luxury industries. It also killed the businesses those boat building, etc., companies' employees patronized... all the Mom and Pop local businesses such as diners, dry cleaners, auto repair shops, hair salons, etc. No one sponsored the local kids' baseball, etc., teams anymore. It was just a total cascade of shutdowns due to just one single tax increase meant to 'soak the rich.' It did anything, but that.
More...
Quote:
"The fat cat still has his money," Mr. Harrison said. "It's the worker they've just slaughtered."
"Back in the summer of 1990, when the nation was still governed by the man from Kennebunkport, the budgeteers figured that the sort of people who buy yachts, private planes and jewelry and furs over $10,000 could afford to pay a little extra.
What went wrong with the luxury tax was that, in trying to go after the rich guys' toys, Congress put the toymakers out of business. The rich guys, meanwhile, bought other toys (including foreign-made ones) not covered by the tax; or they bought used toys and refurbished them; or they simply saved the money, waiting to spend it another day."
Exactly! As my name states, it may be obvious that I crewed on sportfishers. For over 25 years. Mainly as a mate so there was a captain as well. And those boats are built proudly in America as thats required to run charters. Of course no other place can compare as far as building those types of yachts! And all this doesn't stop at the many small businesses such as aluminum outfitters, mechanics for installation, cabinet makers, interior decorators, and on and on and on.
Since we got tips and would have a wallet with several fun tickets at the end of the day, what would one think young boat crews would do? Have fun of course. After cleanup we'd be at the bars. Then we'd go to a restaurant. Whether on a charter boat or a private boat with guests one of the most asked questions was "where do you recommend for dinner?" as we would generally know the good places to go.
So, it goes far beyond the purchase of a fancy "toy".
Now I mainly run charters on my own little commercial grade center console in the back bays as it's much more relaxing and still can be done with a boat under 50 grand. I bought the boat from a small dealer on MD's Chesapeake Bay. A small builder in North Carolina built it. It had to have been trailered to MD so there was another in the mix. The trailer had to have been built somewhere, right? Somebody had to have supplied the wood for the deck and transome! The fiberglass! And on, and on and on. For a little 22ft center console with a single outboard.
I pay a mate. I pay the small marina for gas and dockage. Because of others like me the marina can stay in business and hire dock hands. An individual catches the minnows to sell to the marina. I recommend the restaurant/bar to my charters. I recommend hotels to stay at.
I also detail boats. So I'm once again another on the list of payees that these rich hire after they purchase one of there "toys".
And still, people think adding taxes to their purchases will make things better? Many just don't have a clue!
So true. They don't realize that the people buying these "toys" are supporting many people. Right on down the line to the dockhand fueling the yacht, the campground attendant taking reservations for an RV site or the flagger on the runway guiding the pilot where to go.
If it weren't for those "evil" rich, none of those others would have those jobs.
Instead of RAISING more money in taxes, they actually LOST money because of all the unemployment they had to pay and the taxes lost they did NOT collect from the working people no longing working.
Those "toys" supported entire towns' economies. The laid off workers (due to less demand for highly-taxed luxury items) no longer ate out at their local diners, patronized their local dry cleaners, sponsored their towns' youth sports leagues, etc.
That luxury tax was an utter disaster and actually ended up COSTING the Fed Gov extra money instead of bringing in more tax revenue.
And it didn't just kill the American boat building industry and other luxury industries. It also killed the businesses those boat building, etc., companies' employees patronized... all the Mom and Pop local businesses such as diners, dry cleaners, auto repair shops, hair salons, etc. No one sponsored the local kids' baseball, etc., teams anymore. It was just a total cascade of shutdowns due to just one single tax increase meant to 'soak the rich.' It did anything, but that.
"And it didn't just kill the American boat building industry and other luxury industries. It also killed the businesses those boat building, etc., companies' employees patronized... all the Mom and Pop local businesses such as diners, dry cleaners, auto repair shops, hair salons, etc. No one sponsored the local kids' baseball, etc., teams anymore. It was just a total cascade of shutdowns due to just one single tax increase meant to 'soak the rich.' It did anything, but that."
Would a special tax on the rich elite 'White' class fix the American problems so those who have all those Mc Mansions and yachts have to pay their fair share to the rest of us who are minorities and be stomped on by their boots? Would it be enough to wake the rich lobbyists up so we will come together to build a global solution to our problems and needs?
Poster above is a racist with a self-awareness score of 0.
Would a special tax on the rich elite 'White' class fix the American problems so those who have all those Mc Mansions and yachts have to pay their fair share to the rest of us who are minorities and be stomped on by their boots? Would it be enough to wake the rich lobbyists up so we will come together to build a global solution to our problems and needs?
That's a lovely story.
Sadly, there’s a lot of money to be made in being a professional victim - it has been known to pay on occasion more than being a half-professional adult.
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