Liberal senator wants your money for your car

[WestTexasS2K]

10 % annual fee on the governments appraised value.

 

 

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The DC maggots at work

 

****************** Should some liberal scum bag like Schumer, or any other half-breed narcissistic "spread the wealth" moron ..... decide this is a good idea, the most resourceful bunch of individuals (Hot Rodders) on the planet, will make a little bit of tea getting wet by comparison. It won't take till 2012 to fix this bunch of government miscreants ..... bet me.

 

**Senator Eyes Collector Cars as Revenue Source

New York Times article Mar.28, 2011

 

Auto Enthusiasts who dodge taxes are in Schumer's crosshairs

 

Washington, D.C. - AP. Senator Charles Schumer (D-NY) held a press conference today in the Capitol's rotunda and stated that he is in the process of drafting a bill that will create a federal tax on all collector, antique, historic, special interest, hot rods and race cars. "This country is operating at a huge budget deficit," said Senator Schumer, "thanks to the previous administration's failure to seek new sources of revenue. We can no longer continue to just raise the taxes we already have. We are reaching the point of diminishing returns. We must find new sources of revenue. "There are more than one million collector cars in this country,"said Schumer, "and many of them are unregistered and untaxed. These vehicles represent sometimes sizeable assets which often appreciate from sale to sale. Much of these capital gains remain untaxed. It's about time these collectors—all of whom are rich—begin to pay their fair share. I've never heard of a poor person owning a Corvette, Ferrari, Deusenberg or Cobra." Citing the results of this year's automobile auctions in Scottsdale , Arizona as an example,where reported sales were in the tens of millions of dollars, Schumer said, "We're not talking about rusty old clunkers, here. Some of these cars represent the pinnacle of automotive history. Collectors who buy and sell them often do so privately. Some transactions are in cash and others include trades. All of these are under the Internal Revenue Service's radar. Well, that will soon end."Each state has different laws and requirements for collector cars. Those which tax them as personal property often use outdated values. An owner can pay taxes on a car the state determines is worth $5,000 and then turn around and sell it for $100,000 or more. Until now, all of this has been the purview of each state. Schumer's law will sidestep all state laws by levying a federal tax in addition to anything the individual states do. This new federal tax will be similar to the present federal tax on gasoline, which is in addition to whatever a state assesses. Part of the Schumer law includes the IRS opening up a special department to deal with collector cars. Values will be calculated annually and owners will be required to list all cars they own on their 1040 tax form. Because not all vehicles are registered, and thus may not be known to the individual states' motor vehicles departments—especially race cars which are not driven on public roads—the IRS will make use of the existing network of individual collector car enthusiast organizations across the country. Many of these car clubs maintain accurate registries which detail each car by its vehicle identification number and present or last known owner and their location. Assembling an all-inclusive federal database in conjunction with these registries will be one of the first steps in implementing the new law. Once the database of owners is cross-referenced with an annual index of current collector car values, every collector or race car in the country can be taxed at a fair rate. Initially, Schumer says, it will be 10% but that would rise depending on the type of car, number produced and condition. "Collectors are willing to pay more for certain cars," said Schumer, "because of their history or the small number that were produced. These factors increase a vehicle's worth to buyers, so why should these cars not be taxed at a higher rate? It's no different than our current progressive income tax rate." It is estimated that an annual 10% tax on all collector cars presently owned by American taxpayers—at their prevailing market value—would be more than $250,000,000. In four years the coffers of the federal government could be fattened by a billion dollars. "That's only a conservative estimate," said Schumer. "Nobody knows exactly how many collector cars are out there. But by this time next year, WE will know. Owners of these cars will finally have to pay up.Their free ride—on the backs of the poor—is over."

 

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[powderbrake]

Senator Schumer is no way as nice as a scumbag.

 

This guy is so far left he has no idea of where the middle is. The concept that a hot rodder has lots of money is laughable, and the concept that the hot rodder should owe someting to the government just by owning a car is just WRONG and UNAMERICAN.

[11Budlite]

Wasn't this an April Fool's joke?

[S1Steve]

Keep an eye out for new member Senator Schumer.

[yellowss7]

Who votes for these (l)holes in the first place?

[Kitcat]

Guys, guys, guys..... It was an April Fools joke, you have the Google, don't take my word for it. It was on same page as polka music reduces colon cancer. OK?? A joke. Some people will believe anything:).

 

After all Sen Schumer's office itself put out the word that his favorite car was a Plymouth Duster! (They got the joke). Anyhow, your money may not be safe from the tax man, but this is not cause for concern.

[slngsht]

hey, why do you guys keep blaming DC for this?

 

The rest of the country are the ones sending these jokers over here :rofl:

 

DC has its own homegrown scumbags.

[WestTexasS2K]

There seems to be a a never ending supply of scum bags.

[Boxologist]

can this thread be deleted because he may be sitting in my car by the end of the year for PR stuff for ME. That won't have a chance of happening with on a simple background/google check.

[Alaskossie]

Hard to believe how gullible and hair-trigger some folks are -- just itchin' to poke someone else in the nose.....

 

i had a good laugh over this one. I would have expected to see this "news item" in the Onion.

[GBOLT]

Obama administration floats draft plan to tax cars by the mile

By Pete Kasperowicz - 05/05/11 07:45 AM ET

The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive.

 

The plan is a part of the administration's Transportation Opportunities Act, an undated draft of which was obtained this week by Transportation Weekly.

 

The White House, however, said the bill is only an early draft that was not formally circulated within the administration.

 

“This is not an administration proposal," White House spokeswoman Jennifer Psaki said. "This is not a bill supported by the administration. This was an early working draft proposal that was never formally circulated within the administration, does not taken into account the advice of the president’s senior advisers, economic team or Cabinet officials, and does not represent the views of the president.”

 

News of the draft follows a March Congressional Budget Office report that supported the idea of taxing drivers based on miles driven.

Among other things, CBO suggested that a vehicle miles traveled (VMT) tax could be tracked by installing electronic equipment on each car to determine how many miles were driven; payment could take place electronically at filling stations.

 

The CBO report was requested by Senate Budget Committee Chairman Kent Conrad (D-N.D.), who has proposed taxing cars by the mile as a way to increase federal highway revenues.

 

Obama's proposal seems to follow up on that idea in section 2218 of the draft bill. That section would create, within the Federal Highway Administration, a Surface Transportation Revenue Alternatives Office. It would be tasked with creating a "study framework that defines the functionality of a mileage-based user fee system and other systems."

 

 

 

RELATED ARTICLES

White House disowns plan to tax mileage

The administration seems to be aware of the need to prepare the public for what would likely be a controversial change to the way highway funds are collected. For example, the office is called on to serve a public-relations function, as the draft says it should "increase public awareness regarding the need for an alternative funding source for surface transportation programs and provide information on possible approaches."

 

 

 

The draft bill says the "study framework" for the project and a public awareness communications plan should be established within two years of creating the office, and that field tests should begin within four years.

 

The office would be required to consider four factors in field trials: the capability of states to enforce payment, the reliability of technology, administrative costs and "user acceptance." The draft does not specify where field trials should begin.

 

The new office would be funded a total of $300 million through fiscal 2017 for the project.

 

This story was updated at 10:17 a.m.

 

Get more news about planes, trains and automobiles on The Hill's Transportation Report blog.

 

 

This is no April fools joke. Get out of our lives.

[Alaskossie]

Well, this would certainly give a boost to mass transit for the millions of American commuters who drive to work, one car/one occupant.....

 

Doesn't affect me as much, as i have a home office...

 

But such a proposal probably violates Constitutional federalism precepts -- unless they tie it to interstate commerce and the fact that most highways were built with federal funds....

[BMW RACER]

That doesn't sound too bad to me!

 

Provided all the money goes to transport issues.

 

The roads won't fix themselves (They certainly aren't in California)

 

The more you drive, the more you pay.

 

Of course I have now idea how much money will get wasted implimenting and collecting said funds.

[Mondo]

I wouldn't mind it so much if it replaced the gas tax (which basically serves the same purpose).

 

They're going to have to do something when the roads are being used by more high mpg & electric cars.