[paulddraper]

We tried a luxury tax in the 90s.

Yachts were more expensive and due to highly elastic demand, the industry plummeted. Companies went under or laid off thousands.

But don't worry. Guess who works at yacht manufacturing plants? Not rich people. They weren't hurt, and they were fine with taking their money elsewhere.

[jsankey]

Nice straw man. I didn't even mention luxury tax, let alone promote it.

[paulddraper]

You implied that it would be better if luxury items were taxed at a different (higher) rate than other items. They is a luxury tax.

However, if I misunderstood and you advocate having the same tax rate on luxury goods as other goods, then we are in agreement on this point.