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Luxury Tax

Luxury Tax

Do you think having Luxury Tax charged by the government just because you own something that most cannot afford is fair?

Tax Luxury

Despite thinking that we are generally over taxed anyway, I would say that regardless to your riches if you are to be taxed, then it should be done at the initial purchase and that is it. Paying the government to own something year after year is ridiculous in my opinion.

Luxury Tax History & Civil Business Politics

The thing that always bothers me with the taxes is that I cannot see where each tax dollar goes. For instance, while I fortunately don't smoke, there is a huge tax on cigarettes. Now people do smoke still and state governments are raking in a lot more money from the taxing of it, but all we hear about is how much the healthcare cost for smokers. Within the last 15 years, a pack of cigarettes has gone up almost 300% and tobacco prices have decreased in that time. Actually, I am convinced the government would hate for people not to smoke...what a budget cut! However, using their logic in reverse, shouldn't everyone quitting smoking end up with a huge surplus for the government? With all the people quitting (and the decreased number of smokers reported over the last 10-20 years), shouldn't there be a lot of "extra" money lying about?

A luxury tax is there for what purpose? Some places would call a second home or a vacation home a luxury. Should that receive a tax in and above what you are already paying for property tax? A classic car can be concidered a luxury. If it is only driven 100miles per year and is licensed, what damage to the roads and environment is it doing that requires yet another tax? Boats are usually a favorite for the luxury tax. I can see that reasoning if you are to say that boat owners should pay for the water patrols that safeguard boating. However, if that is true, shouldn't it be paid for through licensing?

If the government must get into the peoples pockets yet again in the name of taxation for a luxury, fine but make it a very minor tax because they are already taking approximately 6% off the top for sales tax. I totally agree with JB in that it should be a one time event. Also, if you make the tax so large that there are thoughts about "to purchase or not to purchase" they could be driving some small business out of business that depend on low sale volume with high profit margin (basically most of your luxury sales businesses).