Posts Tagged ‘yachts’

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    Tax Increases: Yacht Lessons

    Mar 21, 13 • 87 Views • UncategorizedNo Comments

    Called a fairness issue, proposed corporate jet tax increases have been described as an offset to poverty program cuts. However, supporters of the taxes might be disappointed. Some history… The Omnibus Reconciliation Budget Act of 1990 included a luxury tax...

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    Unintended Tax Consequences

    Aug 6, 11 • 121 Views • Behavioral Economics, Businesses, Demand, Supply, and Markets, Economic Debates, Government, Labor, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    Protesting a proposed luxury tax for pet grooming, Chicago’s Soggy Paws canine clients wore signs saying “…please don’t tax my haircut.” The politicians who were hoping for more revenue might have been disappointed. Some...

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    Yacht Lessons

    Apr 11, 10 • 114 Views • Government, Thinking EconomicallyNo Comments

    When we think about taxes, we should look at yachts. In 1990, because of a new luxury tax, anyone who purchased a yacht paid 10% more. The result? People stopped buying domestically made yachts. Yacht makers went out of business and the government never...