blastoff
Undocumented Reg. User
Sometimes it's not just small businesses that get squeezed due to increased taxes, fees, etc.
Several years ago the feds thought an easy revenue stream would be a drastic tax on new boat sales. Not sure now but think it kicked in around sales north of $200k. Their rationale I assume was folks who could afford such toys may not like it but they'd go along with it simply because of their desire to want that new boat.
All they succeeded in doing though was to bring the boat building industry in America to its knees. Lots of companies folded, downsized, or merged with others and whatnot. As a result lots of folks lost their jobs. Many potential buyers just dug in their heels and put off new purchases until the National Marine Manufacturers Association and others put enough heat on Washington to get the tax recinded, but even then many jobs were lost for good.
They're very slow learners in D.C.
Several years ago the feds thought an easy revenue stream would be a drastic tax on new boat sales. Not sure now but think it kicked in around sales north of $200k. Their rationale I assume was folks who could afford such toys may not like it but they'd go along with it simply because of their desire to want that new boat.
All they succeeded in doing though was to bring the boat building industry in America to its knees. Lots of companies folded, downsized, or merged with others and whatnot. As a result lots of folks lost their jobs. Many potential buyers just dug in their heels and put off new purchases until the National Marine Manufacturers Association and others put enough heat on Washington to get the tax recinded, but even then many jobs were lost for good.
They're very slow learners in D.C.