Oh how I love democrats....
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Yep, lets NOT cut the budget, but lets collect FEDERAL TAXES on your expensive, and even UNREGISTERED "collector car, antique, historic, special interest, hot rods and race cars". Thanks again Schumer......
Senator Eyes Collector Cars as Revenue Source
New York Times article Mar.28, 2011Auto 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 Those which tax them as personal property often use outdated values.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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Grr;320676 wrote:
Yep, lets NOT cut the budget, but lets collect FEDERAL TAXES on your expensive, and even UNREGISTERED "collector car, antique, historic, special interest, hot rods and race cars". Thanks again Schumer......Senator Eyes Collector Cars as Revenue Source
New York Times article Mar.28, 2011Auto 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 ."
*Barf..
Government to this extent makes me sick.
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"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 ."
Really, how about you turn your focus to all the illegals and others on welfare that don't need it and weed them out instead, I can guarantee they're easier to find and that amount of money will far exceed the amount "stolen" from car enthusiasts.
Kind of like the HSA wasting resources by going around and taking peoples "illegal", even when imported legally with all the paper work to back it up, Skylines.
When I think of the government I think of this.
Sterling Archer: Oh my god! You killed a hooker!
Cyril Figgis: Call girl!
Sterling Archer: No Cyril! When they're dead they're just hookers!
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PSiedTSi;320690 wrote:
this country is in bad hands...ALL around, democrat or republican.QFT!!!!
> Mitch Hedberg wrote:
> I'm sick of following my dreams, I'm just going to find out where they are going and hook up with them later.ASE certified parts specialist.
2004 Impala LS 3.8 -
Last I heard it was sombodys attempt at a april fools joke. Just some chain e-mail joke.
Worst part is some overgovernment official will think this is a great idea and try to implement it.
Whats fuel injection?
Stuck with buick V6's.
81 Cutlass- Drawthrough turbo 6
97 Firebird- FWD motor turned the right way, Supercharged 3800 -
Grr;320700 wrote:
yeah i seen that it was a joke, sad part is that being the dems and chuck schumer; that this was so easy to beleivenice thing about forums is that when you publish a bullshit story you dont have to recant.....so easy to beleive...only to a fool...
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MisterCMK;320913 wrote:
Go on....http://pioneercarclub.com/sites/default/files/11-0165-02000[1].pdf
Nice ultra conservative state we have here...... /sarcasm
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Trafik Jamz;321022 wrote:
http://pioneercarclub.com/sites/default/files/11-0165-02000[1].pdfNice ultra conservative state we have here...... /sarcasm
error 404: political jab not found
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I am gonna modify my car with this:
sooo true
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Trafik Jamz;321022 wrote:
http://pioneercarclub.com/sites/default/files/11-0165-02000[1].pdfNice ultra conservative state we have here...... /sarcasm
I c&p'd it, dumb stuff that will never pass, surprised they are wasting time with it but I'd like to see the actual proposed bill that this is fitted inside.
11.0165.02000
Sixty-second
Legislative Assembly
of North Dakota
Introduced by
Representatives Ruby, Gruchalla
A BILL for an Act to amend and reenact section 39-21-45.1 of the North Dakota Century Code,
relating to modification of motor vehicles.
BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
SECTION 1. AMENDMENT. Section 39-21-45.1 of the North Dakota Century Code is
amended and reenacted as follows:
39-21-45.1. Modification of motor vehicle.- Except as otherwise provided in this section, a person may not operate upon a public
highway a motor vehicle of a type required to be registered under the laws of this state
with a weight of seven thousand pounds [3175.14 kilograms] or less with alterations or
changes from the manufacturer's original design of the suspension, steering, or
braking system of the motor vehicle. The weight must be computed on the basis of the
unmodified and unloaded weight of the motor vehicle and without regard to any ballast
that may be placed in the vehicle. - An inspection certificate from the department or highway patrol is required after the
completion of all modifications before the motor vehicle with vehicle modifications from
the manufacturer's original design of the suspension, steering, or braking systems
may be registered. - As to bumpers, motor vehicle height, tires, and permitted modificationsfenders, the
following requirements also apply: - a. The motor vehicle must be equipped with front and rear bumpers.
- b. The maximum body height permitted for the motor vehicle is forty-two inches
[106.68 centimeters]. Measurement of body height is made from a level ground
surface to the floor of the cargo area. Air or hydraulic suspension systems used
to change body height may not be actuated while the vehicle is in motion. The
vehicle body must maintain a generally level stance and body and bumper
heights referred to in this subsection must be maintained while the vehicle is in
motion. - c. The maximum bumper height permitted is twenty-seven inches [68.58
centimeters]. Measurement of bumper height is made from a level ground
surface to the highest point on the bottom of the bumper. - d. The vehicle may be modified in accordance with the following:
a. (1) Any modifying equipment must meet specialty equipment marketing
association standards or federal motor vehicle safety standards.
b. (2) If tires placed on a motor vehicle have a diameter greater than that of the
tires on the motor vehicle as manufactured, those tires must comply with
department of transportation requirementsfederal motor vehicle safety
standards.
c. (3) The maximum outside diameter permitted for tires is forty-four inches
[111.76 centimeters].
d. (4) A horizontal drop bumper may be used to comply with the bumper height
requirement of subsection 3. The horizontal bumper must:
(1) Be be at least three inches [7.62 centimeters] in vertical width;
(2) Extend extend the entire horizontal body width; and
(3) Be be horizontal, load bearing, and attached to the vehicle frame to
effectively transfer impact when engaged.
e. (5) The maximum lift permitted in the suspension system is four inches [10.16
centimeters].
e. A part of a motor vehicle must not extend below the lowest part of a wheel rim
except tires and electric grounding devices designed for that purpose.
f. All wheels and tires must be equipped with fenders designed to cover the entire
tread width. Tread width is the portion of the tire that generally makes contact
with the road surface. Fenders must cover the entire tread circumference from at
least fifteen degrees in front, to at least seventy - five degrees to the rear ,
measured from the vertical centerline at each wheel. - g. A person charged with violating this section has the burden of proceeding to
show that the modifications are permitted under this section. - h. Vehicles owned by law enforcement agencies, the military, firefighting agencies,
and ambulances may be modified without regard to this section.
7.4. The director may adopt rules to implement this section.
- Except as otherwise provided in this section, a person may not operate upon a public
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Ummm....it already passed the house and is on way to senate.
EDIT: NM, I see they are actually proposing that it be studied in more detail rather than blindly passed. I'm actually impressed by this. I take back my political stab.
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