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Old 10-29-2015, 09:29 AM
 
Location: Northeast
1,377 posts, read 889,481 times
Reputation: 406

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On luxury items....

New York State's Yacht Tax Break - The Atlantic

How does a state find itself approving a tax exemption just for luxury yachts?

New York’s new budget bill includes an obscure provision, tucked inside section SS, exempting the portion of a boat’s price above $230,000 from the sales tax. That’s about four times as much as the median family in the state earns in a year. The tax break—let’s christen it the SS Giveaway—was quietly inserted into the bill, without public discussion or debate. Some tax cuts are progressive; some are regressive. This one seems almost oppressive.

“Your average Joe in New York who wants to go out and buy a small 16-foot bass fishing boat for his own personal use will actually pay sales tax,” fumed Ron Deutsch, of the progressive Fiscal Policy Institute. “But someone going out and buying a yacht isn’t going to be subject to the same tax.”
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Old 10-29-2015, 09:32 AM
 
Location: PA
5,560 posts, read 4,978,541 times
Reputation: 1945
Telling people taxes at whatever percent sometimes is pointless. For several reasons.
1. They are poor and or dont have jobs and if they did they want more money and or more welfare. So more taxes on everyone else is good as long as they think they are getting free stuff.
2. People who WANT to control PEOPLE and or other peoples money are not going to change. They use government has their moral and economic justice system authority. BOTH are wrong.

There is a perception that some people are good with government and some people are bad. Government is force, no matter how much money they have good and evil are nothing more then words until you see the effects of a government more interested in controlling people and money and less liberty.

Some people are born to be under the boot of government and will willingly give up their fruit of their labor of the illusion of freedom with bigger government.
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Old 10-29-2015, 09:48 AM
 
66,536 posts, read 30,358,972 times
Reputation: 8683
Quote:
Originally Posted by chad3 View Post
Regressive tax- a tax that takes a larger percentage from low-income people than from high-income people.
Regressive Tax Definition | Investopedia
Yes. What makes you think the largest source of income, VAT and other consumption taxes, doesn't take a larger percentage from low-income than high-income people?

Look at the OECD average of tax revenue source percentage compared to that of the U.S.:

Taxes on personal income, profits, and gains

OECD average: 25%
U.S.: 38%

Taxes on goods and services:

OECD average: 33%
U.S.: 18%

http://www.oecd.org/ctp/consumption/...ted-states.pdf

See the difference? REGRESSIVE taxes on goods and services are the greatest revenue source in OECD countries, but not in the U.S.

You've been lied to, repeatedly, Chad, by liberal shysters. Wake up. Smell the coffee...
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Old 10-29-2015, 10:18 AM
 
Location: New Orleans, La. USA
5,924 posts, read 2,837,001 times
Reputation: 2184
Quote:
Originally Posted by InformedConsent View Post
Yes. What makes you think the largest source of income, VAT and other consumption taxes, doesn't take a larger percentage from low-income than high-income people?

Look at the OECD average of tax revenue source percentage compared to that of the U.S.:

Taxes on personal income, profits, and gains

OECD average: 25%
U.S.: 38%

Taxes on goods and services:

OECD average: 33%
U.S.: 18%

http://www.oecd.org/ctp/consumption/...ted-states.pdf

See the difference? REGRESSIVE taxes on goods and services are the greatest revenue source in OECD countries, but not in the U.S.

You've been lied to, repeatedly, Chad, by liberal shysters. Wake up. Smell the coffee...
You say above that VAT taxes are the greatest source of revenues in a country like Switzerland.

"VAT revenues in Switzerland accounted for 13% of total tax revenue in 2012." (See page #2 in the following source.)
http://www.oecd.org/ctp/consumption/...witzerland.pdf

Please explain how VAT taxes making 13% of Switzerland's tax revenues are its greatest revenue source?


And just so you know the United States is a OECD country.
List of OECD Member countries - Ratification of the Convention on the OECD - OECD
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Old 10-29-2015, 10:32 AM
 
66,536 posts, read 30,358,972 times
Reputation: 8683
Quote:
Originally Posted by chad3 View Post
You say above that VAT taxes are the greatest source of revenues in a country like Switzerland.

"VAT revenues in Switzerland accounted for 13% of total tax revenue in 2012." (See page #2 in the following source.)
Wow. No. Latest OECD stats (2014) have Switzerland's revenue from taxes on goods and services at 23%.

You have no clue.
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Old 10-29-2015, 10:35 AM
 
66,536 posts, read 30,358,972 times
Reputation: 8683
Quote:
Originally Posted by chad3 View Post
And just so you know the United States is a OECD country.
List of OECD Member countries - Ratification of the Convention on the OECD - OECD
Yes. As such, the U.S. pulls down the average tax revenue percentage of consumption taxes for all OECD countries. Without the U.S., the consumption tax percentage as a revenue source for OECD countries would be much higher.
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Old 10-29-2015, 10:48 AM
 
2,014 posts, read 1,255,229 times
Reputation: 1921
Quote:
Originally Posted by HappyTexan View Post
Bernie is not proposing any type of VAT.

He says we're gonna get all this free stuff by "taxing the rich".
And a socialist is lying. What a surprise.
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Old 10-29-2015, 11:20 AM
 
79,321 posts, read 33,653,273 times
Reputation: 15870
Quote:
Originally Posted by TruthBTold2U View Post
On luxury items....

New York State's Yacht Tax Break - The Atlantic

How does a state find itself approving a tax exemption just for luxury yachts?

New York’s new budget bill includes an obscure provision, tucked inside section SS, exempting the portion of a boat’s price above $230,000 from the sales tax. That’s about four times as much as the median family in the state earns in a year. The tax break—let’s christen it the SS Giveaway—was quietly inserted into the bill, without public discussion or debate. Some tax cuts are progressive; some are regressive. This one seems almost oppressive.

“Your average Joe in New York who wants to go out and buy a small 16-foot bass fishing boat for his own personal use will actually pay sales tax,” fumed Ron Deutsch, of the progressive Fiscal Policy Institute. “But someone going out and buying a yacht isn’t going to be subject to the same tax.”
Most likely one of the legislators sells luxury yachts.
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Old 10-29-2015, 11:21 AM
 
79,321 posts, read 33,653,273 times
Reputation: 15870
Quote:
Originally Posted by Wanderer0101 View Post
And a socialist is lying. What a surprise.
Except that is not what he said.

Bernie Sanders endorses small tax hike on all - CNNPolitics.com

Now you can disagree all you want but he proposed a program AND proposed a way to pay for it. Agree or not that beats the hell out of "Let's have a war, not put it on the books and let the future generations worry about paying for it".
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Old 10-29-2015, 11:25 AM
 
Location: Northeast
1,377 posts, read 889,481 times
Reputation: 406
Quote:
Originally Posted by pknopp View Post
Most likely one of the legislators sells luxury yachts.

Corruption and greed, it's wonderful combination.
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