Several local boat builders laid off the majority of their employees, including my then neighbor. I'm not looking up any references to satisfy your demands. Google luxury tax and yacht builders if you don't believe me. I have heard of no $250,000 purses on sale, can't see as how this could have any meaningful impact. I disagree with a consumption only tax because the wealthy would pay much too little. The wealthy could accumulate capital gains beyond accounting and be subject to no tax. The wealthy don't consume that much more than the rest of us. Say what? 5 times as much? They have hundreds, even millions of times as much. No, no consumption tax I've heard of is not regressive.