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Should there be a Luxury Tax on very expensive recreation vehicles? ie: Yachts, Cars, etc. With a base amount of $120,000 + Ask a Question

Should there be a Luxury Tax on very expensive recreation vehicles? ie: Yachts, Cars, etc. With a base amount of $120,000 +
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7 Answers

Not until we buy our new sailboat.

4 Replies to Mags59's answer

I agree. Not until after you buy your sailboat. Sailboats should actually be excempt from taxes altogether. They should be classified as excercise Equipment. I used to race on a 31' Yamaha. You get quite a work out!

you gonna take that the 45 miles to get the grocery's???

hmmmmm maybe. boat is a long way away. 4-5 yrs.

dont wait too long, you might change your mind and miss all the fun..

No.

The people who build the luxury boats or cars are middle class; the luxury tax will put ordinary workers out of work.

5 Replies to bobleaf's answer

I think if they have the money for that stuff the tax isnt going to stop them from buying??

bec, when the old luxury tax ended, people bought new RVs and boats out the wazoo.bob is correct.

OH!! It was just a guess on my part??

They aren't middle class any more. Now they're Mexican.

xD

No. If a person just won a lottery and it was not a very big jackpot, but they always wanted a new Lamborghini, they shouldn't have to pay any kind of penalty just to satisfy a lifelong desire.

2 Replies to Chipmonk's answer

Here in Canada, lottery winnings are tax free.

Australia's are tax free and the Casino's.

No. We've got more than enough taxes already.

I somewhat agree with the idea of a luxury tax -- as long as the rich people's accountants can't figure out a loophole, but the question is too US centric... *Most* cats cost $100K here in Singapore :)

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