[Maine Mariner]

And is exactly what happened when Congress passed the luxury tax on yachts in 1990. The tax of 10% was placed on new yachts built in the USA. The tax did not cover used yachts or yachts built outside the USA (and presumably registered outside the USA). Well, everyone knows what happened. The tax raised almost no money and several yacht manufacturers went out of business and the net effect of Revenue - Expenditures was actually negative. Sales tax revenue fell as yacht sales fell, unemployment compensation payments went up as yacht workers were laid off etc.

[Darksheare]

Yup.
It’s stuff we’ve already seen before, and the idiots just keep trying it because they think “someday it might work” somehow.
LOL.

[Truth29]

"And is exactly what happened when Congress passed the luxury tax on yachts in 1990. The tax of 10% was placed on new yachts built in the USA. The tax did not cover used yachts or yachts built outside the USA (and presumably registered outside the USA). Well, everyone knows what happened. The tax raised almost no money and several yacht manufacturers went out of business and the net effect of Revenue - Expenditures was actually negative. Sales tax revenue fell as yacht sales fell, unemployment compensation payments went up as yacht workers were laid off etc."

And that would be fine with Obama. He doesn't really care about the revenue. He just wants to collapse the country and prepare it for takeover by foreign enemies. If he needs any money, he will just issue more obligations covered by debt and the Federal Reserve.