Dino Sore
User
Senior Board Member
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Re:Budget Hearing -Operating Budgets - 2008/05/09 13:19
DirtyJobsGuy wrote:
The real reason that planes and boats are not subject to property tax is that they would rapidly move either out of state or to towns with low tax rates. The net tax revenue from all the support services drops rapidly and we have overall lower tax revenue.
Excellent point!
Sound tax policy is where the tax is fair, easy to administer, and does not unduly influence the economic decisions of individuals or corporations.
Recall the 1990 federal luxury tax on yachts, which quickly killed the US yacht industry and put thousands of Americans out of work. It was estimated that the government paid out millions more in unemployment benefits to those displaced workers than it took in on the luxury tax.
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Specter (1116)
