what do you think about a higher tax on luxury goods?

Question

The president of Venezuela, Hugo Chavez although he is a dictator, (all dictators are considered evil by any self respecting red blooded football watching american) is imposing a higher tax on luxury goods such as extravagant cars, second homes, and private yachts. Do you think it would be a good idea for governments to adapt this law but to raise taxes for the wealthy in more aspects?

Answer 1

More taxes for the wealthy is always a good idea. Also, higher taxes for liquor and cigarettes would be helpful.

Answer 2

He's a democratically elected leader, and as long as the national assembly is the body granting him his legislative and governing powers (such as rule by decree), he is not a dictator. This could well change in the future, but it is not the case now.

As for a higher tax on luxury goods, since Venezuela has a relatively tiny portion of the population that can afford extravagant cars, second homes and private yachts, the move is obviously political. Its overall benefit to Venezuela will be nominal.

When you say "governments," you're not taking into account the fact that the U.S. has some of the lowest tax rates among industrialized nations. Thus, raising a luxury tax in a country like France or Finland would be very unfair. As for the U.S., imposing a substantial luxury goods tax would go against free-market economics. As for raising income taxes in general, that is an entirely different matter all together.

Answer 3

Raising taxes, in the long run, on anybody including the rich, is always a bad idea because all that tax revenue goes to governments and governments never now how to effectivly use that tax money like dictator Chavez who has massive oil revnues and his country still has a major poverty problem.

Answer 4

No. Why should the well off be punished? That's insane !

Answer 5

unfair!!!! all these stupid taxes are unfair.......