Practicality is meaningless if you have the money and your ego needs this
sort of thing. It is in the satisfaction of possessing it. Same with art,
paying huge bucks for world series baseballs, $100 million dollar yachts.
There is no rational justification for them, just that people want them.
What a ridiculous comment. We should tax people because they are
successful enough to afford an expensive car? Tell that to the GM
workers that make them. Repressive taxes do not work, unless your aim
is to have a negative effect on people that work for a living.
Why should we? This comment usually comes from those that are jealous or
envious. When a rich person buys a multi-million dollar yacht, many people
benefit. The machinist that makes the prop, the foundryman that made the
engine block casting, the seamstress making the curtains, the machine
operator that made the wires for the controls, and so on.
Now, I'll admit that heating and cooling a 40,000 sq. ft. house is silly,
but masons, carpenters, tilemen and others helped to feed their families as
a result. Is that a bad thing?
BTW, there is a difference between rich and wealthy, but both help the
economy in different ways.
One only has to go back 16-17 years for this lesson on taxing the
"obcenely wealthy in this country.'
President George Bush, Sr., under pressure from Congress to raise
taxes in order to increase reveunes, fell for the old "tax the rich"
He decided to implement a "luxury tax" on purchases of yachts.
Wealthy people, who did not become that way by being foolish, decided
to either : not buy one, hang on to the one they already had, or
purchase one overseas.
As a result, there was massive lay-offs in the yachting industry, not
only costing thousands of people their jobs, but the government lost a
lot of tax revenues by these lost jobs.
Over-taxing the wealthy almost always causes a loss in tax revenue for
the government, not an increase.
what sacrifice are you referring to in regards to taxes paid by the
Most "poor" people pay little, if any, federal taxes.
Thats fine. Hopefully, it helps them somewhat.
Taking more money from people in the form of increased taxes rarely
helps the ones who dont pay taxes.
The money is usually wasted by the government.
Government hand-outs has been a proven failure for what, 60-70 years?
Taxing people to the point that they cannot afford the Corvette will
only result in:
Lay-offs in Bowling Green, Ky.
A good portion of these people will then have to rely on the
government for assistance.
LESS revenues for the government due to fewer tax paying workers.
More welfare aid to people not working, which somehow always seems to
wind up in the hands of drug dealers.
Happens all the time.
If gasoline really goes to $4-5 per gallon in a couple of months, that will
tax us all. The few people who will buy such a car as this Vette will
not lose as much sleep about it, however, as the people who are working
their asses off for $6 per hour.
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