Comments on: The 1990 “yacht tax” caused a large deadweight loss, because demand for luxury yachts made in the United State? http://boats.helping-us-with.com/officialblog/yachts/the-1990-%e2%80%9cyacht-tax%e2%80%9d-caused-a-large-deadweight-loss-because-demand-for-luxury-yachts-made-in-the-united-state Boating Tips, Tricks and Advice Wed, 28 Jul 2010 11:46:49 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Robert Bailey http://boats.helping-us-with.com/officialblog/yachts/the-1990-%e2%80%9cyacht-tax%e2%80%9d-caused-a-large-deadweight-loss-because-demand-for-luxury-yachts-made-in-the-united-state/comment-page-1#comment-515 Robert Bailey Thu, 18 Jun 2009 16:37:56 +0000 http://boats.helping-us-with.com/officialblog/yachts/the-1990-%e2%80%9cyacht-tax%e2%80%9d-caused-a-large-deadweight-loss-because-demand-for-luxury-yachts-made-in-the-united-state#comment-515 Rich people avoid taxxes at all cost, even if they have to bend the law, just like everyone else. Except they are better at it. The owner of the yacht I was on bought his 65ft C&C for about 350,000 back in 88'. Now check out how he saved money. He signed the purchase papers in international waters then sailed to Mexico, after puchase the boat was not in American waters, so he saved Ca Tax. Then he said it was a buisness, he told me it was a buisness that was going to loose money with a little smile of a millionare who knew what he was doing. The boat was remodeled ( buisness expence ) then he played on it as we took it to Antigua. In Antigua it was chartered ( but not much) and he played on it some more. Eventually it was probly a failed buisness that he neve paid taxxes on, yeah rich people your so smart. Rich people avoid taxxes at all cost, even if they have to bend the law, just like everyone else. Except they are better at it. The owner of the yacht I was on bought his 65ft C&C for about 350,000 back in 88′. Now check out how he saved money. He signed the purchase papers in international waters then sailed to Mexico, after puchase the boat was not in American waters, so he saved Ca Tax. Then he said it was a buisness, he told me it was a buisness that was going to loose money with a little smile of a millionare who knew what he was doing. The boat was remodeled ( buisness expence ) then he played on it as we took it to Antigua. In Antigua it was chartered ( but not much) and he played on it some more. Eventually it was probly a failed buisness that he neve paid taxxes on, yeah rich people your so smart.

]]> By: Chuckie O http://boats.helping-us-with.com/officialblog/yachts/the-1990-%e2%80%9cyacht-tax%e2%80%9d-caused-a-large-deadweight-loss-because-demand-for-luxury-yachts-made-in-the-united-state/comment-page-1#comment-503 Chuckie O Wed, 17 Jun 2009 11:27:57 +0000 http://boats.helping-us-with.com/officialblog/yachts/the-1990-%e2%80%9cyacht-tax%e2%80%9d-caused-a-large-deadweight-loss-because-demand-for-luxury-yachts-made-in-the-united-state#comment-503 very eleastic. No one "needs" a luxury yacht. Raising the "luxury" tax on the yacht did not raise the expected funds, instead it destroyed the boat manufacturing industry. More important, perhaps, which your teacher might not cover, is that, if a tax is perceived as "unfair" like this one was, people will avoid it if they can. very eleastic. No one "needs" a luxury yacht.

Raising the "luxury" tax on the yacht did not raise the expected funds, instead it destroyed the boat manufacturing industry.

More important, perhaps, which your teacher might not cover, is that, if a tax is perceived as "unfair" like this one was, people will avoid it if they can.

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