Luxury tax gone after 12/31/02??? Log Out | Topics | Search
Moderators | Edit Profile

FerrariChat.com » Off Topic Archives » Archive through December 10, 2002 » Luxury tax gone after 12/31/02??? « Previous Next »

Author Message
Willis Huang (Willis360)
Member
Username: Willis360

Post Number: 976
Registered: 8-2001
Posted on Thursday, October 17, 2002 - 10:34 am:   

I just read in the Seattle Times that the Seattle City Council is proposing a tax on burglar alarms. They're looking for more creative ways to tax as we speak. Get out of Seattle city limits if you can!
Edward Gault (Irfgt)
Intermediate Member
Username: Irfgt

Post Number: 2123
Registered: 2-2001
Posted on Thursday, October 17, 2002 - 2:37 am:   

I just got a tax bill for my business for $10.00 for furniture tax. I bought the only chair in my office for $5.00 at a yard sale. I think I will just take the chair up to City Hall and give it to them.j
Chuck Babel (Chuck_98_rt10)
Junior Member
Username: Chuck_98_rt10

Post Number: 84
Registered: 5-2002
Posted on Wednesday, October 16, 2002 - 2:24 pm:   

Deficit? Surplus? In my 42 years those claims never meant squat. Just words one party throws around to make the other party look bad. The school system has sucked for 42 years, people have been unemployed for 42 years and sure the economy is bad. If the SEC would have been policing their own instead of taking kickbacks things wouldn�t be near so bad.

They're all crooks
Willis Huang (Willis360)
Member
Username: Willis360

Post Number: 965
Registered: 8-2001
Posted on Wednesday, October 16, 2002 - 10:12 am:   

On a related note. The Washington state $30 car tab fee was the result of citizens getting sick of paying hefty tab fees. I remember a few years ago, tabs for an average $26K car cost about $480. So if we don't have the base $30 fee and the monorail passes in November, license tab fee for a $145K Ferrari would be about $5,000+ annually. Ouch!
Willis Huang (Willis360)
Member
Username: Willis360

Post Number: 964
Registered: 8-2001
Posted on Wednesday, October 16, 2002 - 9:57 am:   

Martin, I'm so glad I don't live in the city of Seattle anymore (too much socialist agendas). I live in Redmond (AKA Microsoft town).

There was a news story about this tax. A Seattle guy was delaying purchase of a BMW and a Ferrari until the result of the vote is known. I'm sure a lot of people are doing the same or considering ways to register their more expensive cars elsewhere.
ross koller (Ross)
Member
Username: Ross

Post Number: 418
Registered: 3-2002
Posted on Wednesday, October 16, 2002 - 9:34 am:   

taxes are the bane of my existence ! i have never, and will never, get more than about 10pct of the benefit of the taxes i have paid. aggressive and progressive taxation makes as much sense as weight penalties for ferrari in f1
don't get me started......
Martin (Miami348ts)
Advanced Member
Username: Miami348ts

Post Number: 2996
Registered: 5-2001
Posted on Wednesday, October 16, 2002 - 9:07 am:   

"Make no mistake 'bout it"
(my favorite line, this time not from the Simpsons)
Martin (Miami348ts)
Advanced Member
Username: Miami348ts

Post Number: 2995
Registered: 5-2001
Posted on Wednesday, October 16, 2002 - 9:05 am:   

Willis,
time to move to the outskirts of Seattle then! If that passes I would buy real estate just outside of Seattle if I were you.

William,
no government gets that right! They are all bonehead idiots. Look at GWB. Came and had a 200+ Trillion surplus and managed in 2 years to bring that to a 128 Trillion defizit. Here is a guy I want to book as a guest speaker for my company!
The best part is though that he will find lots of idiots that believe that the world is safer now that you can not bring your nail clippers on an aircraft! Okay, so the school system still sucks, unemployment is up 33%, the economy really sucks and there is no end in sight!
That is the guy you want to trust making intelligent tax decisions?
Chuck Babel (Chuck_98_rt10)
Junior Member
Username: Chuck_98_rt10

Post Number: 82
Registered: 5-2002
Posted on Wednesday, October 16, 2002 - 12:10 am:   

William H, taxes ALWAYS punish the middle class - of which I am a member. Personally I don't care how much money the rich make, I just wanna keep mine!
Dave (Maranelloman)
Member
Username: Maranelloman

Post Number: 464
Registered: 1-2002
Posted on Tuesday, October 15, 2002 - 7:54 pm:   

Typical of socialists everywhere...
William H (Countachxx)
Intermediate Member
Username: Countachxx

Post Number: 1509
Registered: 2-2001
Posted on Tuesday, October 15, 2002 - 7:35 pm:   

Luxury tax was only only yachts for 1 year but in that single year it badly mauled the US yacht industry. People with cubic $ simply bought yachts in europe. The yachting industry had to lobby Congress which finally relented before compeletely destroying the industry. The "leaders" wanted to punish the wealthy & ended up screwing the workers
Dave (Maranelloman)
Member
Username: Maranelloman

Post Number: 463
Registered: 1-2002
Posted on Tuesday, October 15, 2002 - 5:14 pm:   

Chuck, you're 100% right. Biggest scam there is. And the only folks who benefit are the billionaire team owners whose teams double in value with a new stadium.
Chuck Babel (Chuck_98_rt10)
Junior Member
Username: Chuck_98_rt10

Post Number: 81
Registered: 5-2002
Posted on Tuesday, October 15, 2002 - 3:12 pm:   

Gawd, I hate taxes. Anyone that votes for a tax increase is a bonehead. That's probably the only generalized statement I'll ever make.

How about all these stadiums and sports arenas? Raise taxes for the children and just a little bit will go to build our wonderful stadium. We're all gonna get rich if we just had a professional sports franchise in town. They pitch that BS to every city in the country.
Bill Sawyer (Wsawyer)
Member
Username: Wsawyer

Post Number: 500
Registered: 2-2002
Posted on Tuesday, October 15, 2002 - 1:38 pm:   

I thought the luxury tax was taken off boats a long time ago. Boaters have also been able to benefit from a loophole that allows them to treat any boat with a head and certain living features as a second home. "Mortgage" interest was therefore deductible. You can buy a 24 footer,live on it the minimum number of days (5, I believe), and get the deduction.
Willis Huang (Willis360)
Member
Username: Willis360

Post Number: 961
Registered: 8-2001
Posted on Tuesday, October 15, 2002 - 12:20 pm:   

Speaking of taxes, there's a vote coming up in Seattle for building an extended monorail line. Funding will come from an 1.4 percent excise tax on vehicles. This is 1.4 percent to be levied each year for the next 25 years. This is additional to what local authorities are bundling on top of the base $30 license tab fee.

A $145K Ferrari 360 Modena will cost an additional $2,030 to own in the city of Seattle. You'd be looking at a total of about $2,600 each year to renew the car tabs.

Chuck Babel (Chuck_98_rt10)
Junior Member
Username: Chuck_98_rt10

Post Number: 80
Registered: 5-2002
Posted on Tuesday, October 15, 2002 - 11:03 am:   

I don't know if it crippled any industries or not, but NO tax is a good tax. All the lux tax did was put cars, etc., out of reach for those who could have otherwise afforded them.

Combine the lux tax with gas guzzler tax and sales tax and you're looking at mucho $$$. Not to mention all the other government cost just to own and drive a damn car!!!
Martin (Miami348ts)
Advanced Member
Username: Miami348ts

Post Number: 2981
Registered: 5-2001
Posted on Tuesday, October 15, 2002 - 8:50 am:   

So would you take delivery of your car before then?

I can not believe it crippled the US Yacht building industry. If you have that kind of money for a boat, you know that you can register the yacht in some other tax free country. After all you still would have to pay sales tax on her. By exporting her you can get around that as well. Further you do not have the IRS knowing that you own such a toy.
William H (Countachxx)
Intermediate Member
Username: Countachxx

Post Number: 1501
Registered: 2-2001
Posted on Sunday, October 13, 2002 - 8:44 am:   

excellent, that was a retarded throwback to the 16th Century after all. It crippled the US Yacht building industry, bunch of bonehead morons in DC
Adam Goldman '86 TR (Icnsltmfg)
Member
Username: Icnsltmfg

Post Number: 415
Registered: 8-2001
Posted on Saturday, October 12, 2002 - 10:47 pm:   

Gone!!!!!!!!!!!
tommy jones (360mode)
New member
Username: 360mode

Post Number: 32
Registered: 9-2002
Posted on Friday, October 11, 2002 - 9:25 pm:   

i have been told that this is true... anyone confirm? thanks.

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.

Topics | Last Day | Last Week | Tree View | Search | Help/Instructions | Program Credits Administration