Reply to post: Re: Income Tax - Smincome Tax

Should the super-rich pay 70% tax rate above $10m? Here's Michael Dell's hot take for Davos

scarper

Re: Income Tax - Smincome Tax

>> The last time the US imposed a luxury tax, the rich stopped buying yachts, putting yacht builders out of work.

No, actually. The rich stopped buying yachts built in America, putting American yacht builders out of work. Yacht builders elsewhere took up the slack. I really hated Bush for that move.

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