Proposed Tax on Collector Cars by Charles Schumer

[ohhawk]

This has so much hair on it I don't know where to begin. This is not just about enforcing state taxes on the books for such transactions but about adding another....... being the Fed's cut as I read it.

Didn't know that everybody that collects or trades old cars was loaded with money. What defines a collectible vehicle? Even a $5,000 junker qualify? They're going to review vehicle values once a year....so how to they know if you have a condition 1 or a condition 4 vehicle? I can envision a bunch of black suits showing up at my doorstep to inspect my collector car/s with their U.S. Federal Govt. Car Value Book.

Maybe Chuck should focus on cutting the debt with as much energy as he has about going after all the "rich" people with the creation of add'l taxes and new law enforcement agencies.