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Missy, you would be truly amazed at the number of total fuggheads you can find in a population of over 300 million.


I am continually amazed at the number of people I encounter who have no clue whatsoever about what an economy actually is.


Some years ago, the US experimented with a luxury tax on big yachts. They figured that the 1% wouldn't mind their toys getting more expensive, and they'd collect lots of money for buying votes.


It didn't work. Yacht purchases got postponed, or went offshore and out of reach of the tax man. Meanwhile, the boatyards that would normally be storing and servicing those yachts, providing jobs to a lot of 99%ers, got hit HARD. Lots of people got laid off, because the boats they would have been working on were never purchased. No boats means no boatyard services required means no service fees coming in means no money to pay salaries means NO JOB.


The luxury tax on yachts did not generate one penny of revenue. Instead, it COST the government a FORTUNE, in unemployment compensation and lost income taxes.


It was repealed.

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