http://articles.sun-sentinel.com/19...1090682_1_luxury-tax-tax-last-year-income-tax So in 1991 Congress passes a 10% excise tax on all yachts costing over $100k, and just as then as it is now its a way for our government to attack those evil, disgusting, putrid rich people who liberal politicians love to hate so much. It didn't take long however for this tax to affect the "working people" who helped build and maintain these massive boats. Layoffs were happening all over the industry as yacht orders dwindled. This sudden drop in employment caused congress to rethink their original plan and repeal this rather unnecessary tax. So what can we learn from this? Again we see liberal politicians calling for an increase on taxes for the wealthy. Never mind the fact that these wealthy individuals already pay a large percentage of the taxes collected by the government, it just isn't enough. Now, though, it isn't just one industry being targeted so much as it is an entire class of people responsible for most of the private investment that takes place in our economy. The very same people who use their money to start businesses and employ others are the people who democrats feel the need to target for more tax revenue. Basically they are an easy target because they make up a small percentage of the population, and stirring up a little wealthy envy seems to go a long way. Just keep in mind that if you support higher taxes on the rich that when the rich pay more in taxes so do the "working people". When fewer business owners have a motivation to expand fewer people have jobs an in economy where jobs come at a premium. When those who have the means to simply pick up and move wherever they want to do just that we will have less wealth, and overall higher unemployment and poverty in this country. That is all.