New York State Might Take 5% Luxury Car Bite

Press and News

Here’s an idea that strikes me as stupid: New York State is considering a 5% tax on expensive cars.

No, it’s doesn’t strike me as stupid because it’s anti-car, or because I’m pro-tax or any such stuff. It strikes me as stupid because all it is is a revenue generator; it’s not going to stop someone from buying a huge, inefficient car. If someone like (famous New Yorker) Donald Trump has to pay 5% more for a Rolls, he, like a lot of other rich people, wouldn’t even notice. This is why flat taxes are a dumb idea – Lambos go up by XX%, rich don’t notice, loaf of bread goes up by the same percent, the poor DO notice.

At any rate, The Empire State, finds itself it a bit of a fiscal crisis (hey, join the club guys), and looks at this proposed new luxury tax as a way to make up for that.

And there’s more head scratching in the details, such as, what constitutes a “luxury” car. In the case of New York state, that’s any car that costs more than $60,000

Seems a little low to me, especially when you consider that in the same bill, they want to tax luxury boats too … starting at $200,000.

Seems like a bit of disparity to me.

Source: AutoBlog

Related posts:

Related Articles

NOTE: There are two ways to comment on our articles: Facebook or Wordpress. Facebook uses your real name and can be posted on your wall while Wordpress uses our login system. Feel free to use either one.

Facebook Comments:

Leave a Reply

Your email address will not be published. Required fields are marked *


(C) Copyright 1996-2018. All Rights Reserved. and the ConsumerReview Network are business units of Invenda Corporation

Other Web Sites in the ConsumerReview Network: | | | |