Luxury Tax

luxury tax

In the olden days, before I was born, there was a luxury tax.

I believe it started when rich people rode through town in their ornate coaches with 6 horses.

To stop commoners from throwing stones at the coaches, the luxury tax was created.

Rich people took the hint and built smaller coaches. They had to settle for 2 horsepower coaches instead of 6 horsepower ones.

Maybe we should restore the luxury tax on cars, homes, planes and overly "expensive" items like jewelry, art and even clothes.

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How do we "make" those who are "Too Rich" share their wealth.

Answer is have them pay more taxes including income, inheritance, capital gains and above mentioned luxury tax.

For now, I will not offer a detailed discussion of taxes. First, I need to find an expensive tax lawyer to explain all tax loopholes now available to rich people.

Displays of wealth to commoners, like myself, are upsetting.

Thanks to modern media, I can see "Too Rich" mansions on a computer screen while sitting in my (2,000 square foot) abode. OK, this is not small.

I find it appalling that people live in 10,000+ square foot mansions and fly to vacation houses in private jets.

Personally, I would feel guilty living in a mansion.

Am I the only one upset by these displays of wealth?

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How can we force existing politicians in Washington, DC to increase taxes on the wealthy? Maybe we need new politicians.

One person I know suggested only electing middle class people. Good idea, but not constitutional.

My answer, you should be able to guess, is to elect women to Congress. Enough to be a majority.

Why should women be different than men?   Children.   Women want a good life for their kids.

This requires, health care, equal pay, higher minimum wage, food assistance, paid maternity leave and reasonable college tuition. This costs money.

Who can afford to pay. People who are "Too Rich".

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Rich people claim tax cuts give them money they invest into companies to grow the economy.

That was true 100 years ago. Today the world is awash in retirement savings from the middle class, that help fund new businesses and expand existing ones.

Income redistribution from "Too Rich"
to rest of us folks is needed.


Written By: Dennis Wilmeth
Published: 7/12/17
Revised: 5/7/18
Email: wilmeth@verizon.net

   

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