The rich stay rich by being smart with money. A luxury tax on yatchs to soak the rich caused them to buy fewer yatchs, hurting the working class folks who built them.
Those rich people who buy luxury cars and pens aren’t exactly being careful with their money. (Unless they’re doing it to impress investors or something, but those investors are being careless if they allow themselves to be impressed.) You’re right, geeknerd, that luxury taxes don’t work, but it’s not because the rich are so smart.
geeknerd about 16 years ago
The rich stay rich by being smart with money. A luxury tax on yatchs to soak the rich caused them to buy fewer yatchs, hurting the working class folks who built them.
tobybartels about 16 years ago
Those rich people who buy luxury cars and pens aren’t exactly being careful with their money. (Unless they’re doing it to impress investors or something, but those investors are being careless if they allow themselves to be impressed.) You’re right, geeknerd, that luxury taxes don’t work, but it’s not because the rich are so smart.