This draws a conclusion from a short term surprise ( government passing another tax) then applies it to all time, which is wrong. It is going to take some time

This draws a conclusion from a short term surprise ( government passing another tax) then applies it to all time, which is wrong. It is going to take some time for people to restructure to avoid this new tax and in that time it will probably pay out. The question isn't what happens during adjustment, it's what happens once everyone has made their responsive moves to the tax.