Which is why a wealth tax is a better approach than "penalty" taxes on yachts or jets. Would the high end suppliers of luxury items see a reduction in the very

Which is why a wealth tax is a better approach than "penalty" taxes on yachts or jets. Would the high end suppliers of luxury items see a reduction in the very small numbers of people able to buy their top end products? Yes. Is that a bad thing? Probably no in the scheme of the entire economy or even the luxury industry affected. People downgrading from their $100m yacht to a modest $95m yacht isn't going to destroy the yacht industry.