[DeTomaso] True?

[boyd casey]

I think it's a terrible idea It may give them ideas. We as car aficionados
have no organized lobby (that I know of) and would make a perfect target for
their money grabbing claws. I thought the prank was well written and very
believable, that's why it scares me. They say there is at least a grain of
truth in most jests. This one may contain more then a grain. Many
municipalities already impose a personal property tax on cars , boats
airplanes etc This is in addition to the sales tax that is collected each
time one is sold and registered. How many people actually make money after
they spend tens of thousands restoring their car and the selling it. Most I
know of are losers (financially) The Dealers make money on sales but they
are already taxed.
Boyd

On Fri, Jun 17, 2011 at 9:21 AM, Will Kooiman <wkooiman at earthlink.net>wrote:

> 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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