Tag Archives: Canadian luxury tax on boats

By Bill Yeargin Luxury taxes, on items such as boats that politicians see as a “luxury,” are traps that don’t impact the rich but have a huge negative impact on people who can least afford it. They are the quintessential example of unintended consequences; history has demonstrated this unequivocally.  Politicians, many of whom I believe are well-intentioned, see luxury taxes ...

Correct Craft CEO Bill Yeargin appeared on the BOAT BOSS podcast to discuss the proposed Canadian luxury tax on boats. During the interview Yeargin shared the history of luxury taxes previously implemented around the world, why they don’t work, and why they are harmful to both the workers who build boats and small business owners who sell and service them. Yeargin stated, “The lessons learned ...