Hacker News

points by alistairSH 1 day ago | 0 comments

Yes, but it isn't taxed federally as income tax, which is the problem we're probably trying to solve.

IE, every dollar I earn gets taxed twice - as income, then as sales tax. Rich guy only pays the sales tax.

And there's a fundamental difference between "borrow to keep the business running smoothly" and "borrow to buy a mega-yacht". Legally, not so much, as you say, but hell's bells, the super yacht market really shouldn't exist.

[–] etcetcetcetceta 1 day ago

Counter point: the (super) yacht industry employs a huge number of skilled workers who take immense pride in their craft (pun intended).

[–] alistairSH 1 day ago

Sure, and there's plenty of opportunity to build regular yachts (which are still massively expensive). When I say super-yacht, I mean the 100 meter monstrosities preferred by the likes of Bezos and Zuckerberg. I take no issue with the type of yacht owned by "mere millionaires".