Free Republic

-snip- But let me focus on one historical instance of a tax-reform plan gone wrong. That was pointed out to me by my old high-school buddy Jim Byrnes, who was just re-elected to the township council of Berkeley Township, which includes Bayville as well as a chunk of oceanfront across the bay. It concerns big boats. Back in 1991, President George "Read My Lips; No New Taxes" Bush signed into law a bill meant to reduce the deficit by imposing a 10 percent "luxury tax" on yachts costing more than $100,000. What Bush forgot is that yachts really are a...