Placing high taxes on rich people and the goods they buy, such as private jets and luxury cars, is a popular idea; however, few countries place high tax rates on rich people and luxury goods. Use course concepts to explain why so few countries impose high tax rates on rich people and luxury goods. What is an example of another market that governments should not tax for economic reasons? (Use the concepts below to explain your anwsers)

1. price ceiling/price floor
2. taxes
3. willingness to pay
4. consumer surplus
5. demand curve/ supply curve
6. marginal buyer
7. producer surplus
8. willingness to sell
9. marginal seller
10. total surplus
11. comparative advantage
12. world price
13. tariff
14. positive externalities
15. negative externalities
16. external cost
17. external benefit
18. externality is internalized