Repealing the Luxury Tax
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Come on now! You mean to say that those individuals who can afford to pay more than $100,000 for a boat and more than $250,000 for a plane balk at paying a 10% luxury tax on anything above those prices?
If we peasants in California, and in most other states, uncomplainingly pay an 8.25% sales tax on necessities such as toilet paper, soap, toothpaste, etc., not to mention certain foods, why should the super-rich whine about a special tax on their super-luxurious playthings?
I’m sure some way can be found to write it off as a business expense. I hear highly paid, executive big-wig moguls are very good at that.
SHIRLEY WOLF
Santa Monica
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