[DeTomaso] True?

[Will Kooiman]

April Fool's joke or not, it's a good message to send to D.C.

-----Original Message-----
From: detomaso-bounces at realbig.com [mailto:detomaso-bounces at realbig.com] On
Behalf Of David in Durango
Sent: Friday, June 17, 2011 8:01 AM
To: Kirby Schrader
Cc: panteras
Subject: Re: [DeTomaso] True?

Didn't realize it was part of the April Fool's business.  My apologies.
  ----- Original Message ----- 
  From: Kirby Schrader 
  To: David in Durango 
  Cc: panteras 
  Sent: Friday, June 17, 2011 6:51 AM
  Subject: Re: [DeTomaso] True?


  That was an April Fool's joke...

  Trouble is, it hit home so hard that Schumer's office was fielding calls
for weeks... maybe still is.
 
http://wheels.blogs.nytimes.com/2011/04/07/a-fake-tax-rattles-classic-car-bu
ffs/


  On Fri, Jun 17, 2011 at 07:46, David in Durango <adin at frontier.net> wrote:

    NPC, but might affect your ownership . . .

    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." 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. 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. 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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