Robert Ehrlich said "Now the people of this country will remember the great luxury tax. It placed a 10-percent surcharge on a portion of a purchase price over $100,000 on private boats and yachts. Congress established similar taxes on furs, jewelry, cars and airplanes. Now, this in my view, Mr. Radanovich, is the best example I can think of where good class warfare politics meets economics 101, and you know what? Politics always loses because combined with the recession, Mr. Speaker, the tax nearly killed an entire industry in this country. The tax adversely effected every segment of the industry, manufacturers, retailers, and blue collar workers, and is that not the ultimate irony, Mr. Radanovich, that tax warfare ends up hurting blue collar workers because blue collar workers have the jobs that build the items that are now overtaxed that put them out of business?" @ PoliticalQuotes.com

On the recordMay 9, 1995

Now the people of this country will remember the great luxury tax. It placed a 10-percent surcharge on a portion of a purchase price over $100,000 on private boats and yachts. Congress established similar taxes on furs, jewelry, cars and airplanes. Now, this in my view, Mr. Radanovich, is the best example I can think of where good class warfare politics meets economics 101, and you know what? Politics always loses because combined with the recession, Mr. Speaker, the tax nearly killed an entire industry in this country. The tax adversely effected every segment of the industry, manufacturers, retailers, and blue collar workers, and is that not the ultimate irony, Mr. Radanovich, that tax warfare ends up hurting blue collar workers because blue collar workers have the jobs that build the items that are now overtaxed that put them out of business?

Said by

Robert Ehrlich

Maryland

Source

govinfo.gov

Editor's note · Context

Discussing the impact of the luxury tax on the economy and blue collar workers.

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