Unintended Consequences.
Posted by Rob Longenecker on August 6th, 2007
“Back in the hot summer of 1990, Senate Majority Leader George Mitchell proudly engineered the infamous “luxury tax,“ a nasty little tithe on everything from furs to jewelry to yachts.
Democrats were proud: Not only were they throwing new dollars at the Treasury, they’d done it by socking it to the rich. The wealthy, in the words of then-House Majority Leader Dick Gephardt, would finally pay “their fair share.“
Within a year, Mr. Mitchell was back in the Senate passionately demanding an end to the same dreaded luxury tax. The levy had devastated his home state of Maine’s boat-building business, throwing yard workers, managers and salesmen out of jobs.
The luxury tax was repealed by 1993, though by the look of today’s tax debate, its lessons haven’t been forgotten. Top Democrats are working to implement a new class-warfare tax strategy, only this time they’re getting pushback from those in their party who fear the economic consequences.“
Continue reading article here.
Sometimes a great-sounding idea has unintended consequences. Like when Tucker and I decided to boost sales with a promotion last December. Little did we know just how many additional orders we would get. It’s a nice problem to have – up to a point.
I appreciate your patience. We’re a small shop with a big reputation and a backlog.The great thing about it is that customers are happy with the product when they get it. That makes our work worthwhile. Let us hear from you if you have comments.