Senator Chuck Schumer, Democrat from New York is in the process of proposing a new federal tax for those people with hot rods, antique cars, collector cars, muscle cars, race cars ect. He states that those people with corvettes, ferrari's etc, are RICH and need to pay their fair share because the government needs new REVENUE SOURCES!
He says there are a lot of cars that are not registered such as race cars and so forth and he cites the Barrett Jackson auctions where sales amount to tens of millions of dollars and the federal goverment wants their share.
This article was in the New York Times paper on March 28th.
Schumer says we have been living off the backs of the poor people and its time we pay our fair share!
His bill is to tax us 10% per year of the actual value of the car and a special IRS branch would have to be established to track the actual values of the cars so they could tax us. We would have to list all cars owned by us on our 1040 tax form.
Pls contact your elected officials about this so we can send him a huge defeat on the issue.
Why doesn't Schumer ( and the democrats) try cutting spending instead of taxing us to death !!!
He says there are a lot of cars that are not registered such as race cars and so forth and he cites the Barrett Jackson auctions where sales amount to tens of millions of dollars and the federal goverment wants their share.
This article was in the New York Times paper on March 28th.
Schumer says we have been living off the backs of the poor people and its time we pay our fair share!
His bill is to tax us 10% per year of the actual value of the car and a special IRS branch would have to be established to track the actual values of the cars so they could tax us. We would have to list all cars owned by us on our 1040 tax form.
Pls contact your elected officials about this so we can send him a huge defeat on the issue.
Why doesn't Schumer ( and the democrats) try cutting spending instead of taxing us to death !!!
