If a new tax on luxury goods such as sports cars, boats, and helicopters were passed in order to reduce the disparities between the highest and lowest income brackets, we would refer to this as

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Business

Zane Zhang

26 September, 15:10

If a new tax on luxury goods such as sports cars, boats, and helicopters were passed in order to reduce the disparities between the highest and lowest income brackets, we would refer to this as

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Kyla Montoya · Answer 1

It refers to the luxury tax, which is applied to high-value items in order to reduce the fluctuation between low and high incomes and to increase the collection of taxes of the people with greater purchasing power to balance the expenditure between rich and poor. The United States Congress approved this decree in 1990, but there was a cessation of it, but this tax applies to the luxury goods sector for people and companies that purchase very expensive goods.