Calling John Galt

That didn’t work out well with the luxury yacht tax in the 1980’s, which decimated the maritime industry here in the US.

I love my Botox, but no botox for you

“Starting in 1991, Washington levied a 10 percent tax on cars valued above $30,000, boats above $100,000, jewelry and furs above $10,000 and private planes above $250,000. Democrats like Ted Kennedy and then-Senate Majority Leader George Mitchell crowed publicly about how the rich would finally be paying their fair share and privately about convincing President George H.W. Bush to renounce his ‘no new taxes’ pledge,” the newspaper said in an editorial.

“But it wasn’t long before even those die-hard class warriors noticed they’d badly missed their mark. The taxes took in $97 million less in their first year than had been projected — for the simple reason that people were buying a lot fewer of these goods. Boat building, a key industry in Messrs. Mitchell and Kennedy’s home states of Maine and Massachusetts, was particularly hard hit. Yacht retailers reported a 77 percent drop in sales that year, while boat builders estimated layoffs at 25,000. With bipartisan support, all but the car tax was repealed in 1993, and in 1996 Congress voted to phase that out too. January 1 was disappearance day.

Via the Washington Times

I never use botox.

This won’t work too well for the US either.  Cosmetic surgery will just move offshore.  It is already cheaper to have this type of elective surgery in other countries and this will just drive more out of the US.

Is this the best leadership that we deserve?