10 percent annual Federal tax on your collector car?
#1
Pro
Thread Starter
10 percent annual Federal tax on your collector car?
I trust that there is no member of our community, no manner their political persuasion who would support this bill put forth by likely the most vacuous politico in our congress. Yes indeed it is Mr. Schumer the one and same anti-2nd amendment,,,,get out of the way when there is a tv camera present as you are likely to get run over,,,,Senator from New York.
http://www.saac.com/files/newsletter...s-04-01-11.pdf
Basically the proposal is to designate a 10 percent annual tax on every collector car in the country. Not defined is exactly what a collector car is and who would decide,,,,but you can rest assured that these miscreants in conjunction with their minions at the IRS will come up with a definition on how to pluck the most amount of feathers from the goose with the least amount of squawking.
Think it can't happen. Calyfornua a number of years ago found a way to re-assess every vehicle when sold at its selling price. Previously annual registration fees (among the highest in the nation anyhow) were based upon the original selling price on a car, and this number was depreciated each year to where the car had lost all value for tax purposes. This then allowed you to pay registration on its depreciated value.
However the money grubbing snakes in our government found a way to base the registration on the selling price of a used vehicle. So a car that may have been say 200 dollars annually to register because it was 30 years old, if now sold at a 100,000.00 dollars would find the tax some 1,500 dollars annually for the new owner,,,,for a car that often would get between 0 and a 1,000 miles per year. Oh yes on top of this, they collect upwards of almost 10 percent in sales tax when the car is sold to a new owner.
http://www.saac.com/files/newsletter...s-04-01-11.pdf
Basically the proposal is to designate a 10 percent annual tax on every collector car in the country. Not defined is exactly what a collector car is and who would decide,,,,but you can rest assured that these miscreants in conjunction with their minions at the IRS will come up with a definition on how to pluck the most amount of feathers from the goose with the least amount of squawking.
Think it can't happen. Calyfornua a number of years ago found a way to re-assess every vehicle when sold at its selling price. Previously annual registration fees (among the highest in the nation anyhow) were based upon the original selling price on a car, and this number was depreciated each year to where the car had lost all value for tax purposes. This then allowed you to pay registration on its depreciated value.
However the money grubbing snakes in our government found a way to base the registration on the selling price of a used vehicle. So a car that may have been say 200 dollars annually to register because it was 30 years old, if now sold at a 100,000.00 dollars would find the tax some 1,500 dollars annually for the new owner,,,,for a car that often would get between 0 and a 1,000 miles per year. Oh yes on top of this, they collect upwards of almost 10 percent in sales tax when the car is sold to a new owner.
#2
Tech Contributor
#4
Instructor
Where do they come up with this kind of crap!!! They find way's to tax EVERYTHING and now they want to tax our hard earned collector cars over and over ond over again. Plus think of all the cars that will end up in the scrap heap because they just are not worth paying the tax on, or that guy who loves his car and spends years scrimping and saving to restore his car and now these scums come by and slap a tax on him. We sooo need a tax revolt!!!
#6
Pro
Thread Starter
Well they got me good on this one,,,,partially because they could not have picked a more insipid Senator as their foil for their posting,,,,,who more than he would be more likely to propose such inane legislation,,,which made the story that more believable. I had been just suspicious enough that I had run it thru Snopes before posting and found nothing on it.
The good to come out of this however might be that the uproar caused by this may clue some of our politicos with ideas such as this, that perhaps they might reconsider. I suspect the only other groups that could raise so much with hell politicians as old car aficionados would be either the Gray Panthers or the NRA.
Calyfornua politicos have been trying for years to force old car hobbyists and collectors to bring their cars into compliance with the horrific maze of smog regulations (in spite of the fact that most of these cars see very few miles in a year,,,,lawn mowers likely create far more smog than the old cars) to not much success. Even the eco-nuts that run our state have been reluctant to force this issue.
But as noted in my original posting,,,,they did ram thru this re-assessment of auto values for registration purposes while we were were snoozing. So vigilance remains the order of the day.
The good to come out of this however might be that the uproar caused by this may clue some of our politicos with ideas such as this, that perhaps they might reconsider. I suspect the only other groups that could raise so much with hell politicians as old car aficionados would be either the Gray Panthers or the NRA.
Calyfornua politicos have been trying for years to force old car hobbyists and collectors to bring their cars into compliance with the horrific maze of smog regulations (in spite of the fact that most of these cars see very few miles in a year,,,,lawn mowers likely create far more smog than the old cars) to not much success. Even the eco-nuts that run our state have been reluctant to force this issue.
But as noted in my original posting,,,,they did ram thru this re-assessment of auto values for registration purposes while we were were snoozing. So vigilance remains the order of the day.
#7
Le Mans Master
It didn't get me. Proposals like this are actually made all the time by fringe and mainstream politicians.
The current poltical climate would never allow the above..
The toilet that is Washington will be flushed again in 2012. Theres still some lingering turds from the 2010 elections. Damn those low flow toilets.
The current poltical climate would never allow the above..
The toilet that is Washington will be flushed again in 2012. Theres still some lingering turds from the 2010 elections. Damn those low flow toilets.
#8
Team Owner
It didn't get me. Proposals like this are actually made all the time by fringe and mainstream politicians.
The current poltical climate would never allow the above..
The toilet that is Washington will be flushed again in 2012. Theres still some lingering turds from the 2010 elections. Damn those low flow toilets.
The current poltical climate would never allow the above..
The toilet that is Washington will be flushed again in 2012. Theres still some lingering turds from the 2010 elections. Damn those low flow toilets.
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
Last edited by Frankie the Fink; 04-06-2011 at 07:41 AM.
#9
Le Mans Master
O/T Now some politician in Florida wants undocumented aliens to get in-state college tuition breaks just like legal Florida residents....IF they agree to apply for citizenship
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
#10
Melting Slicks
O/T Now some politician in Florida wants undocumented aliens to get in-state college tuition breaks just like legal Florida residents....IF they agree to apply for citizenship
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
#11
Pro
Thread Starter
O/T Now some politician in Florida wants undocumented aliens to get in-state college tuition breaks just like legal Florida residents....IF they agree to apply for citizenship
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
after graduation.
How about becoming a citizen FIRST?
How about illegal aliens can't use a state-run institution at ANY price?
Where do these morons come up with this stuff ??
All the while the teachers unions (all unions) are whining that we have among the lowest expense per school students among all states,,,,,leaving out for a moment that we have some 3 to 5 million illegal aliens enrolled in our schools that distort all statistics in the expenditures per student and the vast majority of their families not contributing a dime(or very few) to the taxes required to educate, medicate, incarcerate them.
But the weather is pretty good and there is a car show somewhere 10 months a year.
#12
Ok, I can see how this was originally somewhat related to corvettes if you stretched it, but to continue on after you know its an April Fools joke is too much. Cant you guys go over to the political forum and blowviate? Say whatever you want there, I come here to learn about corvettes and talk with guys with a common interest no matter if they are progressives or right wingers.
#13
Le Mans Master
Bet I wouldn't. And I bet just to be spiteful the popo would harass me if I didn't get my plates swapped over within 30 days too.
#14
Melting Slicks
Better get use to the illegals........the Dems aren't going to do anything about them because Hispanics vote overwhelmingly Democrat. The Republicans love them because they can pay them slave wages, with no benefits, and they never complain about anything. Republicans are against amnesty because then they would have to pay them a living wage, with minimum benefits.....and they will still vote Democrat.
#15
Live Free or Die
Ok, I can see how this was originally somewhat related to corvettes if you stretched it, but to continue on after you know its an April Fools joke is too much. Cant you guys go over to the political forum and blowviate? Say whatever you want there, I come here to learn about corvettes and talk with guys with a common interest no matter if they are progressives or right wingers.
#16
Racer
Member Since: Feb 2007
Location: Sebago Lake Maine
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St. Jude Donor '09
It's believable cause that's the way the libs think. Take from people that work or already paid their dues so they can keep giving to the freeloaders and illegals, oops, sorry I meant undocumented citizens, that just so happen to breed like rabbits and won't work but sure know who to vote for.
There, I feel better now.
http://blog.hemmings.com/index.php/2...ld/?refer=news
There, I feel better now.
http://blog.hemmings.com/index.php/2...ld/?refer=news
#18
Melting Slicks
No it's not that simple.....why should I have to avoid ANY thread just so you can spew your right wing dogma on the Corvette Forum? I thought to start with, this thread was an interesting topic. But as usual, it's always some wing nut that has turn it into a right wing propaganda thread. Go to the political forum if that's what you want to talk about.
#19
Live Free or Die
No it's not that simple.....why should I have to avoid ANY thread just so you can spew your right wing dogma on the Corvette Forum? I thought to start with, this thread was an interesting topic. But as usual, it's always some wing nut that has turn it into a right wing propaganda thread. Go to the political forum if that's what you want to talk about.
Odd that the only post that mentioned Republicans and Democrats was yours.
You sir, are the epitome of the pot calling the kettle black. You have shared your political views many many times in this section.