Thursday, June 30, 2011

Remember How This Tax Worked Out

An alert reader said I was a Dummy  for not remembering how the last luxury tax worked out.
Enacted by George Bush, the luxury boat tax was supposed to hurt the really wealthy guy in the pocket book. It was a compromise tax with a Democratic Congress. They wanted to raise income taxes higher, and Bush 1 only wanted to raise them a little.
The luxury boat tax put entire boat companies out of business.  The middle class skilled worker that had a job was out of work. The poor unskilled labor person that pushed a broom was out of work.  The fat cat simply bought his boat somewhere else and avoided the tax, or didn’t buy the boat at all.
That’s exactly what will happen when the government targets corporate jets.  The pilots that fly em, the attendant that takes are of customers, the ground crew that maintains em, and the staff at the airport that they fly out of will be out of jobs.
Obama knows how to kill jobs.  The only ones he seems to create are government jobs.

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