Trudeau’s proposed luxury tax…

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digits_
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Re: Trudeau’s proposed luxury tax…

Post by digits_ »

AirFrame wrote: Wed Mar 30, 2022 6:25 am
digits_ wrote: Tue Mar 29, 2022 6:56 amThat same argument can be made for someone buying a 100k airplane.
No. There are lots of options cheaper than a multimillion dollar bizjet... Even a 100K plane, when it comes right down to it.

But there are very few options for a GA pilot right now under 100K.
Fair point. But are you really going to buy a 100k airplane if you don't have 10k extra in the bank?
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Re: Trudeau’s proposed luxury tax…

Post by goldeneagle »

photofly wrote: Wed Mar 30, 2022 6:40 am The question is, does that 2018 date get rolled forward year after year?
If you buy into all the doom and gloom constantly posted here, it will be a moot point. According to the doom and gloom here, going forward, nobody will be able to afford an airplane anyways.
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Re: Trudeau’s proposed luxury tax…

Post by photofly »

digits_ wrote: Wed Mar 30, 2022 7:16 am
AirFrame wrote: Wed Mar 30, 2022 6:25 am
digits_ wrote: Tue Mar 29, 2022 6:56 amThat same argument can be made for someone buying a 100k airplane.
No. There are lots of options cheaper than a multimillion dollar bizjet... Even a 100K plane, when it comes right down to it.

But there are very few options for a GA pilot right now under 100K.
Fair point. But are you really going to buy a 100k airplane if you don't have 10k extra in the bank?
It's a trickle-down effect, all along the line.

The pilot who was going to buy one for $200k now gets one for $180k + tax. The pilot who was going to buy a plane for $150k now gets one that prior to the tax he could have bought for $135k. The person selling a plane for $90k sees the comparison with newly increased $150k plane and ups his price to $99k. The beater that was $50k is now $65k, and the person with $50k decides not to buy a plane at all.

Of course it matters.
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digits_
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Re: Trudeau’s proposed luxury tax…

Post by digits_ »

photofly wrote: Wed Mar 30, 2022 10:07 am
digits_ wrote: Wed Mar 30, 2022 7:16 am
AirFrame wrote: Wed Mar 30, 2022 6:25 am
No. There are lots of options cheaper than a multimillion dollar bizjet... Even a 100K plane, when it comes right down to it.

But there are very few options for a GA pilot right now under 100K.
Fair point. But are you really going to buy a 100k airplane if you don't have 10k extra in the bank?
It's a trickle-down effect, all along the line.

The pilot who was going to buy one for $200k now gets one for $180k + tax. The pilot who was going to buy a plane for $150k now gets one that prior to the tax he could have bought for $135k. The person selling a plane for $90k sees the comparison with newly increased $150k plane and ups his price to $99k. The beater that was $50k is now $65k, and the person with $50k decides not to buy a plane at all.

Of course it matters.
Yes, I agree, of course it matters. I'm just trying to point out that the reasoning 'if you can afford a 44 million jet, you can afford 10% in tax' isn't entirely fair, and the same could be said to someone buying a 100k airplane (if there were a 10% tax on there). You could likely still afford it, but you might not want to anymore. Both for a 44 million jet and a 100k piston.
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Re: Trudeau’s proposed luxury tax…

Post by WANP »

It wouldn't need to be a charter company.
Business use is business use.
If you fly to meetings, travel to your many businesses, showing rural real estate, etc then it is used for business. Suggesting it has to be a charter company aircraft only, is false.
People use planes for a lot more than charter work.
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Re: Trudeau’s proposed luxury tax…

Post by pelmet »

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V1dranked
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Re: Trudeau’s proposed luxury tax…

Post by V1dranked »

Hope it will not go any further because I worry that lefties will start to take houses and other types of property from “the rich” and give them to “the poor,” just like communists did.
We don’t need more taxes because my small business already does not have enough capital to develop. I have to pay tons of taxes instead of developing my business and becoming more relevant to the economy and society. Thankfully, now I don’t have to spend too much time creating a pay stub maker for each worker when they get paid because I have online tools that help me with that. It is nice to spend less time with all the financial documentation.
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Re: Trudeau’s proposed luxury tax…

Post by geodoc »

V1dranked wrote: Tue Jul 12, 2022 2:24 pm Hope it will not go any further because I worry that lefties will start to take houses and other types of property from “the rich” and give them to “the poor,” just like communists did.
Welcome fellow aviation enthusiast!




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Re: Trudeau’s proposed luxury tax…

Post by oldncold »

Would the last person please pay the lunch tab and the light bill . we seem to have been put into the poor house from being middle class by the political elites that get free limos, nannys and houses . 3/4 million dollar renovations to their kitchens on the public dime. and have the unmitigated gall to create more burecracy to tax the middleclass even more Wtf
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WellThatAgedWell
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Re: Trudeau’s proposed luxury tax…

Post by WellThatAgedWell »

“Luxury cars” over 100k. Hell a truck or a minivan with some options like power windows can exceed 100k. I guess a work truck is a luxury vehicle :lol:.

What tax will they think of next.

Where does all this money go? I can’t seem to find any of the improvements with all these taxes and spending.
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pelmet
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Re: Trudeau’s proposed luxury tax…

Post by pelmet »

WellThatAgedWell wrote: Wed Jul 13, 2022 7:17 pm Where does all this money go? I can’t seem to find any of the improvements with all these taxes and spending.
https://www.fraserinstitute.org/studies ... ld-welfare
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Re: Trudeau’s proposed luxury tax…

Post by goldeneagle »

WellThatAgedWell wrote: Wed Jul 13, 2022 7:17 pm “Luxury cars” over 100k. Hell a truck or a minivan with some options like power windows can exceed 100k. I guess a work truck is a luxury vehicle :lol:.
Just a couple of points for you

a) The tax doesn't apply to a work truck, you just have to show it's actually used for work.
b) Power windows are not an option on a new truck these days, they all have power windows.

Then again, I wouldn't expect you to come armed with facts, it's much harder to get folks riled up with facts than it is with the blathering bs you make up on the fly and peddle to folks gullible enough to swallow it.

As for your 100K truck, it's actually quite easy to drive off the lot with a brand new work truck for half of that number. Yes, it's possible to spend 100K, but, you have to add a lot more than just 'power windows'. that one will be loaded with every option in the inventory, all the chrome that they can fit on it, and likely has a lift kit with off road tires. But that's not a work truck anymore, that's a driveway status symbol for the 'mine is bigger than yours' crowd.
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Re: Trudeau’s proposed luxury tax…

Post by altiplano »

Anyone towing gets hit here. A 3/4 ton pickup with mid level trim hits 100K pretty quick.

Besides 100K is the new 80K with 10% inflation and a devalued currency.
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Re: Trudeau’s proposed luxury tax…

Post by goingmissed »

altiplano wrote: Thu Jul 14, 2022 7:58 am Anyone towing gets hit here. A 3/4 ton pickup with mid level trim hits 100K pretty quick.

Besides 100K is the new 80K with 10% inflation and a devalued currency.
Get yourself an A6, don't pay the luxury tax, and drive around feeling like a Nigerian prince.

Let's be honest, most people who buy pickup trucks aren't using their pickup truck for it's towing capabilities.
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Re: Trudeau’s proposed luxury tax…

Post by altiplano »

Maybe 1/2 ton owners who can't carry much more than occupants and gear within the GVWR.

If you are getting a 3/4+ ton you're probably getting it to tow and you're pretty quickly over 100K for a mid line offering.
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Re: Trudeau’s proposed luxury tax…

Post by WellThatAgedWell »

Let’s not lose track of what we are talking about here, as we don’t care what people are doing with their trucks. Why is a luxury tax being implemented at all? Why would someone buying a 500k boat, car or plane be subject to an additional tax on top of the exorbitant amount of tax they will already pay to own and operate the equipment.

This is simply wealth redistribution. Socialism. I don’t trust our corrupt government to redistribute wealth to begin with.
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‘Bob’
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Re: Trudeau’s proposed luxury tax…

Post by ‘Bob’ »

Yet I bet dollars to donuts you are a net benefactor of that redistribution.

Wealth redistribution is what used to make North America great. No aristocracy or landed gentry. Everyone has an equal opportunity to get ahead.

There was no working harder or working smarter in medieval Europe. The land upon which you paid rents and toiled was not for sale at any price.

In North America and then elsewhere, estate taxes took care of that and country houses became expensive anachronisms of another time when the elite could do nothing and draw a comfortable income by virtue of just being born.

But we are coming back to that with offshore accounts, money laundering, and tax loopholes like the Smith Maneuver. People have already been priced out of land ownership forever. Corporations are posting record profits under the guise of inflation (obviously their costs haven’t increased as much).

So I welcome any tax for higher income earners and the wealthy. You have to look out for your own. The only people who think trickle down economics works are complete delusional.

And if you want the luxury of a big $100K truck, you’ll have to pay for it, and you’ll have to pay the extra carbon tax to run it. If that’s the difference between you getting it and not getting it… sorry to say you couldn’t afford it in the first place because you aren’t part of that club.
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Re: Trudeau’s proposed luxury tax…

Post by rookiepilot »

I'm rich and I drive a minivan. My second, and the only 2 vehicles I've ever bought new.

Those 2 facts aren't uncorrelated.

But that's too boring an image for most of you.

Be poor, but look cool doing it.
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Re: Trudeau’s proposed luxury tax…

Post by goingmissed »

WellThatAgedWell wrote: Thu Jul 14, 2022 9:43 amWhy is a luxury tax being implemented at all?
I'm pretty sure we all agree on the reasoning behind the tax: the current government has increased the debt to GDP ratio by 50% in a single year and now need to bankroll their vote purchasing.
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Re: Trudeau’s proposed luxury tax…

Post by WellThatAgedWell »

‘Bob’ wrote: Thu Jul 14, 2022 12:50 pm Yet I bet dollars to donuts you are a net benefactor of that redistribution.
Maybe.

Of course there would be a tipping point where the benefit of this type of tax policy does more damage than good. And the main reason trickle down economics doesn’t work is because the free market is not a free market, and government has to much red tape on everything. Look at Covid policy, who were the beneficiaries of this, the middle/lower middle class? Hell no. Are the lower middle class the biggest beneficiaries of this inflation about to happen? All these are induced by government policies. Wealth redistribution is a bandaid to cover up shit government policies that do more damage than good to the majority of Canadians. Wealth redistribution is like buying votes with candy for the children you abuse. Maybe just stop the abuse and you don’t need to hand out candy.
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