You lose money because the tax kills off the jobs of those wage earners who would be paying taxes to the Federal Government on their salaries and wages. So what you pick up. supposedly. on the luxury tax. the 10 percent above $100.000. you lose because scores of employees are laid off and their income taxes are foregone to the Nation. In addition. Mr. Walters pointed out it will put thousands of additional boat employees out of work. have an adverse impact on blue collar and immigrant workers. and is discriminatory. Why choose boats or yachts and not choose second homes? The effect would be disastrous.
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immigrant