Indeed.
All those very skilled experts that actually build the yachts (and private aircraft and luxury homes as well) will be lost, all those skilled workers thrown out of a job or forced to abandon their skill-set for jobs that less pay as they build lower end products that don’t need the same level of polish and detail work.
They don't want to make America better for everyone.
They want everyone to wallow in the same poverty at the bottom of the economic scale.
Except themselves of course. The socialist/communist elites always do fine.