Luxury taxes are bad because supply is less elastic than demand, so the tax incidence falls on suppliers. In other words, the working class people building the airplanes pay the tax because the rich can just not buy them.
K.I.S.S. Tax wealth. Tax the only thing they really care about. Making them notice isn’t just more satisfying; it’s better economics.
Luxury taxes are bad because supply is less elastic than demand, so the tax incidence falls on suppliers. In other words, the working class people building the airplanes pay the tax because the rich can just not buy them.
K.I.S.S. Tax wealth. Tax the only thing they really care about. Making them notice isn’t just more satisfying; it’s better economics.