Yes, a wealth tax is better than a luxury tax, for a wealth tax cannot be dodged my declining to spend, and so does not slow the economy. A (less-avoidable) wea

Yes, a wealth tax is better than a luxury tax, for a wealth tax cannot be dodged my declining to spend, and so does not slow the economy. A (less-avoidable) wealth tax can then be put to good use, funding more socially useful boats than yachts, or distributed as a national income guarantee, or to retrain boatbuilders in other, more relevant, industries.