In 1990,Congress passed a new luxury tax on items such as yachts,private airplanes,furs,jewelry,and expensive cars.The goal of the tax was to

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The goal of the luxury tax was to raise revenue from the wealthy by imposing a tax on items that were considered luxury goods. The tax was intended to generate additional revenue for the government by targeting those who could afford to purchase expensive items such as yachts, private planes, furs, jewelry, and high-end cars. While the tax did generate some revenue for the government, it also had unintended consequences such as reduced employment in some industries and a decline in sales of luxury goods.

In 1990,Congress Passed a New Luxury Tax on Items Such