Wednesday, November 02, 2005

The Rich Are Undertaxed Watch

by Tom Bozzo

Spotted recently on the otherwise Prius-infested streets of Madison:
OK, so the Bentley admittedly looked like a not-bad reason to become a robber baron. The Lamborghini, well, was just insane. But clearly someone's making some money — even if not to the extent of shoring up the upper-middle bracket of the local housing market — and not afraid to flaunt it.
This is the same thing that happened in Austin during the mid to late 90s. As tech money flowed into town, ostentatious displays of wealth grew alongside it. My guess is that many of these people are executives reaping money pouring into area biotech start-ups and expansions (like Covance).

When Jamie Thomson spoke at Overture a couple months ago, the audience there screamed monied biotech exec...
Not a bad guess, Anon. There's also the likes of Berbee and Epic, plus some real estate development money...
So, they're making money, but the AUTOMATIC conclusion you come to is they need to be taxed to the point where they can't afford a luxury car?

What's the point of working hard to get that money if our self-anointed economist elites insist that it all be taken away?
Robert: While I do (really) think the rich are undertaxed, rates that would in my view cure the problem (i.e., late-90s rates) aren't likely to burden many people in the ultraluxury car market. I will shed no tears for a Ferrari aspirant forced to "make do" with a 911 Cabriolet.

You might also consider that, notwithstanding my views on taxation, this blog employs irony and sarcasm in heaping quantities.

BTW, I drive a BMW, and don't consider myself overtaxed.
I've noticed the irony. It's inescapable.

Sorry if I came off as confrontational, I was just envisioning a scenario where the groups of people Anonymous had suggested -- mainly, very successful biotech entrepreneurs who had chosen to set up shop in the Madison area and brought the jobs, funds, and prestige to the area -- got the "Thanks for playing!" and were promptly rendered unable to enjoy the fruits of their wealth. I'm talking about people who turned their Big Idea into cash, not the exploitative robber baron -- the type of person who would generate such wealth where it would become ridiculous NOT to have them give back in quantity.

So, misreading on my part or something.
I went to Magic Mill yesterday. In the parking lot, I had to dodge a Range Rover, two Mercedes, and an Audi TT. This is Madison?

One note on the Prius: I rode in one recently. I bumped my head getting into the back seat. I'm 5'8". Plenty of leg room, but the slanty rear window freaks me out as does the extremely slanty and deep dashboard. Yes, it's fuel efficient, but I like to drive something that I enjoy, and I don't think I'd enjoy driving the Prius.
Robert: No problem. I probably should have put a smiley at the end of my reply.

I was mainly observing the cultural phenomenon (a la Sara). When I originally came here from the D.C. area, the mix of cars here was very markedly less flashy. It still is, but I really have noticed a lot more vehicular showing-off around town.

Sara: I agree that the Prius is an efficient and relatively useful transportation appliance, but is wanting beyond that. The hybrid trend is towards more normality, though, and the horsepower wars have gotten so far out of hand that tuning non-hybrid cars for fuel efficiency shouldn't spoil much fun at all.
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?