Freq, it reminds me of King George's stamp tax, meant to raise about $20k. The colonists boycotted British ships and quickly cost the King's coffers about $100k. The Parliament, under the wise advise of merchants, repealed the stamp tax. King G did it again, and the same results, only quicker and steaper losses resulted. Again, the Parliament repealed it. On the third try, the King sent troops into the colonies to force new taxes. This added at least $50k a year to the project, and by 1781, the King had spent several hundred thousand, lost thousands of lives, was ridiculed by the French, Dutch and Spanish, and lost his colonies, too. All for $20k - way to stay focused, Kingie.
Tuchman's THE MARCH OF FOLLY has a lot more. I have to wonder when FollyWare will become the latest genre.