"This tax is very dependent on these transactions occurring and all the ones likely to occur in the next few years got cleared before April 1, 2023, they may have to be happy with the trickle of revenue they got."
You don't appear old enough to remember, but the US instituted a luxury goods tax. From wikipedia:
"In November 1991, The United States Congress enacted a luxury tax and was signed by President George H. W. Bush. The goal of the tax was to generate additional revenues to reduce the federal budget deficit. This tax was levied on material goods such as watches, expensive furs, boats, yachts, private jet planes, jewelry and expensive cars. Congress enacted a 10 percent luxury surcharge tax on boats over $100,000, cars over $30,000, aircraft over $250,000, and furs and jewelry over $10,000. The federal government estimated that it would raise $9 billion in excess revenues over the following five-year period. However, only two years after its imposition, in August 1993, at the behest of the luxury yacht industry, President Bill Clinton and Congress eliminated the 'luxury tax' citing a loss in jobs. The luxury automobile tax remained in effect until 2002."
"This tax is very dependent on these transactions occurring and all the ones likely to occur in the next few years got cleared before April 1, 2023, they may have to be happy with the trickle of revenue they got."
You don't appear old enough to remember, but the US instituted a luxury goods tax. From wikipedia:
"In November 1991, The United States Congress enacted a luxury tax and was signed by President George H. W. Bush. The goal of the tax was to generate additional revenues to reduce the federal budget deficit. This tax was levied on material goods such as watches, expensive furs, boats, yachts, private jet planes, jewelry and expensive cars. Congress enacted a 10 percent luxury surcharge tax on boats over $100,000, cars over $30,000, aircraft over $250,000, and furs and jewelry over $10,000. The federal government estimated that it would raise $9 billion in excess revenues over the following five-year period. However, only two years after its imposition, in August 1993, at the behest of the luxury yacht industry, President Bill Clinton and Congress eliminated the 'luxury tax' citing a loss in jobs. The luxury automobile tax remained in effect until 2002."
Stupid then, stupid now.
Congrats on keeping your Federal Income Tax at a reasonable level!