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Don't think of it as spending on yachts.

Think of it as make-work income for inner city shipyard workers, metal workers, and countless other legacy professions.

At the end of the day, the guy doesn't have the money any more, they all do. So they're happy, and he has a boat.

Indeed, money spent drives economies. Money not spent is simply wasted. One reason why people advocate for more taxes for the rich is to make sure that the money circulates in an economy and thus progress society.

But taxes goes into govt and its inefficiencies rather than into economy

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