Re: Off Topic But IMPORTANT (APRIL FOOLS!)

[Donald Gallimore <dongallimore@xxxxxxx>]

It's an April Fools Joke.  Read this: 
http://blog.hemmings.com/index.php/tag/senator-chuck-schumer/

 
Akron Don Gallimore



----- Original Message ----
> From: William Harrison <bbjt3@xxxxxxxxx>
> To: 1962to1965mopars@xxxxxxxxxx
> Sent: Wed, April 27, 2011 8:59:36 AM
> Subject: Re: Off Topic But IMPORTANT
> 
> What a dick!!!!!
> The legislature will have a hard time getting enough backing  to be presented 
>to the congress but if it becomes a bill we will have a specific  target to 
>remind our representatives of how we will vote if they favor the bill  and 
>believe me there are many muscle car buffs and collectors in the  congress.
> Later
> Bill Harrison
> 65 Coronet 2 dr post.
> 
> BTW....;You  can email your congressman and senators to pre-warn them of your 
>opposition to  the bill to be proposed.
> 
> --- On Tue, 4/26/11, Ollie <satellite1965@xxxxxxxxxxx>  wrote:
> 
> > From: Ollie <satellite1965@xxxxxxxxxxx>
> >  Subject: Off Topic But IMPORTANT
> > To: 1962to1965mopars@xxxxxxxxxx
> >  Date: Tuesday, April 26, 2011, 12:20 PM
> > 
> > 
> > Subject:  Senator Eyes Collector Cars as Revenue Source 
> > 
> > 
> > If you  are not aware of this new legislation, you need to
> > be if you own any  type of collector automobiles, race cars,
> > hot rods, customs, etc. 
> > I urge you to pass this on to your friends and neighbors
> > who  are car enthusiasts. Also, if you belong to any car club
> > or group, see  that they get it also. 
> > I’m sure the biggies, like the auction Houses,  car
> > magazines, AACA, VCCC, etc. will get in on opposing this
> >  legislation. 
> > Gene 
> > Senator Eyes Collector Cars as Revenue  Source 
> > New York Times article Mar.28, 2011 
> > 
> > 
> >  Auto Enthusiasts who dodge taxes are in Schumer's
> > crosshairs 
> > 
> > 
> > Washington, D.C. - AP. Senator Charles Schumer (D-NY)  held
> > a press conference today in the Capitol's rotunda and  stated
> > that he is in the process of drafting a bill that will
> >  create a federal tax on all collector, antique, historic,
> > special  interest, hot rods and race cars. " This country is
> > operating at a huge  budget deficit ," said Senator Schumer,
> > " thanks to the previous  administration's failure to seek
> > new sources of revenue. We can no  longer continue to just
> > raise the taxes we already have. We are reaching  the point
> > of diminishing returns. We must find new sources of  revenue.
> > "There are more than one million collector cars in this
> >  country, "said Schumer, " and many of them are unregistered
> > and untaxed.  These vehicles represent sometimes sizeable
> > assets which often  appreciate from sale to sale. Much of
> > these capital gains remain  untaxed. It's about time these
> > collectors—all of whom are rich—begin to  pay their fair
> > share. I've never heard of a poor person owning a  Corvette,
> > Ferrari, Deusenberg or Cobra ." Citing the results of  this
> > year's automobile auctions in Scottsdale, Arizona as an
> >  example,where reported sales were in the tens of millions of
> > dollars,  Schumer said, " We're not talking about rusty old
> > clunkers, here. Some  of these cars represent the pinnacle of
> > automotive history. Collectors  who buy and sell them often
> > do so privately. Some transactions are in  cash and others
> > include trades. All of these are under the Internal  Revenue
> > Service's radar. Well, that will soon  end ."Each state
> >  has different laws and requirements for collector cars.
> > Those which tax  them as personal property often use outdated
> > values. An owner can pay  taxes on a car the state determines
> > is worth $5,000 and then turn around  and sell it for
> > $100,000 or more. Until now, all of this has been  the
> > purview of each state.. Schumer's law will sidestep all
> >  state laws by levying a federal tax in addition to anything
> > the  individual states do. This new federal tax will be
> > similar to the  present federal tax on gasoline, which is in
> > addition to whatever a  state assesses. Part of the Schumer
> > law includes the IRS opening up a  special department to deal
> > with collector cars. Values will be  calculated annually and
> > owners will be required to list all cars they  own on their
> > 1040 tax form. Because not all vehicles are registered,  and
> > thus may not be known to the individual states' motor
> >  vehicles departments—especially race cars which are not
> > driven on public  roads—the IRS will make use of the
> > existing network of individual  collector car enthusiast
> > organizations across the country. Many of these  car clubs
> > maintain accurate registries which detail each car by  its
> > vehicle identification number and present or last known
> >  owner and their location. Assembling an all-inclusive
> > federal database  in conjunction with these registries will
> > be one of the first steps in  implementing the new law. Once
> > the database of owners is  cross-referenced with an annual
> > index of current collector car values,  every collector or
> > race car in the country can be taxed at a fair rate  .
> > Initially,  Schumer says, it will be 10% but that would
> > rise  depending on the type of car, number produced and
> > condition. "  Collectors are willing to pay more for certain
> > cars ," said Schumer, "  because of their history or the
> > small number that were produced. These  factors increase a
> > vehicle's worth to buyers, so why should these cars  not be
> > taxed at a higher rate? It's no different than our  current
> > progressive income tax rate. " It is estimated that an
> >  annual 10% tax on all collector cars presently owned by
> > American  taxpayers—at their prevailing market
> > value—would be more than  $250,000,000. In four years the
> > coffers of the federal  government could  be fattened by
> > a billion dollars. " That's only a conservative  estimate,"
> > said Schumer. "Nobody knows exactly how many collector  cars
> > are out there. But by this time next year, WE will know.
> >  Owners of these cars will finally have to pay up . Their
> > free ride—on  the backs of the poor—is over” 
> > 
> > 
> > 
> > [Non-text  portions of this message have been removed]
> > 
> > 
> >  ----
> > Please address private mail -- mail of interest to only one
> >  person -- directly to that person.  I.e., send
> > parts/car transactions  and negotiations as well as other
> > personal messages only to the intended  recipient, not to the
> > Clubhouse public address. This practice will  protect your
> > privacy, reduce the total volume of mail and fine tune  the
> > content signal to Mopar topic.  Thanks!
> > 
> > 1962 to  1965 Mopar Clubhouse Discussion Guidelines:
> > http://www.1962to1965mopar.ornocar.org/mletiq.html and
> > http://www.1962to1965mopar.ornocar.com/general_disclaimer.html.
> > 
> > 
> > 
> >
>