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Thread: OT - Taxes

  1. #1
    Z8 Madness
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    OT - Taxes

    For those of us in CA, it just got about 2x more expensive to register our cars
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  2. #2
    I'm dreading to see where else they are going to screw us. I'm appalled that we the people have to pay so much when they are giving a billion dollars in tax breaks to the corporations with special interest lobbying power, it is an absolute disgrace.
    Andrew Macpherson

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  3. #3
    Z8 Madness
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    I made up my mind about voting for Mr. Obama the day he mentioned "personal responsibility" and am now very disappointed having seen his economic stimulus plan and all the other garbage that goes along with it.

    We are f%$#ed!

    Should have studied to be a banker.
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  4. #4
    Z8 Madness
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    This sums up how I feel.
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  5. #5
    Saw that one - fantastic - pitchforks by the summer!
    Andrew Macpherson

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  6. #6
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    I have a fixed 4.5% fifteen year loan on my house that I have never been a day late on. If I stop making my payments, can I get a Government subsidized 2% loan? That would be cool!

  7. #7
    Team Z8 KenZ8's Avatar
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    No, it appears that you would only qualify to refinance if you bought a home that you could not afford and mortgaged it to close to 100% of value counting on it appreciating at rediculous rates for eternity. The fact that you bought within your means, put down a down payment, negotiated a rate that would not rise and surprise you later or be greedy and "go for" stupidly low teaser rates, and stay current on you loan obligations means that you are on your own. Instead, you are now required to chip in and "help" all of your neighbors who chose to live without any rules for personal responsibility or financial stability. That's on top of your paying extra to keep your state solvent, and pay the medical bills and support for that octamom and others like her who do whatever they want and expect "the government" to fix it.
    Thanks for the chance to rant. Now, go out and drive in the sunshine with your Z8 top down with a clear mind. Even with all of this crap that is going on, life is good. You live by the right rules, and there are benefits of doing so.

  8. #8
    So true, really looking forward to 3 days behind the wheel going to Palm Springs - and as a footnote, we really hit the time right with Monterey, I don't think it'll be the same again this year!
    Andrew Macpherson

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  9. #9
    Freedom Ouray's Avatar
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    All goes back to a posting that I made in Q408. While there is plenty of blame to go around, too many people have already bought into the idea that those that borrowed more then they ever could have paid back are victims. As far as I am concerned I have spent over 20 years saving for the rainy day and skipping on many items that I could have afforded. (How do I have an Alpina, by making sure every liability I could ever have was covered before spending a dime on a frivolous treat to myself. Perhaps in hindsight I should have spent every penny and borrowed the rest, then I would at least have had a hope of seeing some of my tax dollars back. Alas, that is not the way I was raised. Perhaps it is time to find Gault's Gulch and move there.
    p.s. I am a Wall Street guy who has spent two + decades counseling my institutional and HNW clients on being prudent. Those that listened are clients for life, those that did not are now calling for my opinion. Go figure.

  10. #10
    Z8 Millennial Monster hayvenhurstkid's Avatar
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    Fortunately for me I had a wonderful father who taught me many of life's important lessons as I grew up. It was ingrained in me that it was important to have fun with your money but to also save. When I turned 16, he bought me my first car but told me to go get a job to pay for gas, upkeep, and insurance. I got my first credit card at 18. I had to put $300 in the bank and had a $300 monthly limit guaranteed by my deposit. I was taught to never buy anything on credit that I could not pay for at the end of each month. So here I am now at 51 years of age and I never once have carried a balance on a credit card. I realize life can throw you a curve ball and sometimes people get in over their heads through no fault of their own, but fortunately for me, knock wood, so far so good.
    I think the most important lesson of all my father taught me is that nothing lasts forever. He made me realize that we really do not own things, they are simply ours to possess for awhile and then they go to someone else. True wealth is health, family, good friends, and hopefully work which you love. And most important of all? Life is like a pendulum; it swings one way and then, after awhile, it swings back the other. Meaning? Good times do not last forever and most importantly for all of us now, neither do the bad times. Hopefully we can all ride this out and be better for it. May God rest his soul!

  11. #11
    Sport Button On - DSC Off FWK-Z8's Avatar
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    Anyone care to join me in a search for a trailer in NV

    To use for an address of convenience to move their high dollar autos to?

  12. #12
    Team Z8 RRZ8's Avatar
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    Quote Originally Posted by redz8 View Post
    For those of us in CA, it just got about 2x more expensive to register our cars

    Just out of curiosity Tony; What does registration cost in California, and is this a yearly cost or one time only?

  13. #13
    Z8 Madness
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    The big component of the yearly registration is the Vehicle License Fee (VLF), a form of tax. It is currently 0.65% of the market value of the vehicle. In the [illegal] CA budget that just got passed, the value has been raised to 1.15%.

    In my household, our cars have a market value of about 320K. That's $3680 + some additional fees = $4K.
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  14. #14
    Team Z8 RRZ8's Avatar
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    Over here in the Netherlands our vehicle taxes are measured by weight in stead of value; the Z8 costs about 800 euro's (about 1000 dollars), so California and the Netherlands now cost about the same regarding car taxes....

  15. #15
    Sport Button On - DSC Off Z8-NL's Avatar
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    Quote Originally Posted by RRZ8 View Post
    Over here in the Netherlands our vehicle taxes are measured by weight in stead of value; the Z8 costs about 800 euro's (about 1000 dollars), so California and the Netherlands now cost about the same regarding car taxes....
    Remko, first the government had us over with "licence tax" which for the Z8 when new was 50,000 euro!

  16. #16
    Team Z8 tomfakes's Avatar
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    WA State overturned the 'fee based on the price of the vehicle' tax 10 years ago. Now the base tax is $30, but of course the politicians managed to add a bunch of stuff back to this, but each of our cars is about $270/year.

    If I think we could trust them with not screwing it up, a gas tax is the best way to pay for road services. Sadly, it all gets sent off to random other xxxxxxxxxxxxxxxxxxxx....sales tax to pay for stadiums for billionaire team owners is always good for a few chuckles.

  17. #17
    Team Z8 RRZ8's Avatar
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    Quote Originally Posted by Z8-NL View Post
    Remko, first the government had us over with "licence tax" which for the Z8 when new was 50,000 euro!
    That's right Klaus...... But this is at first registration, what is this in California? Only VAT or more taxes?

  18. #18
    What we are talking about here is yearly registration fees, so my silver Z8 just went from $480 to around $900 per annum! Looks like my blue car will go into 'Non Operational' mode, saving me around $800 a year!

    There is a state sales tax too, when you buy any car new or used you have to pay the state of California 9.25% of the purchase price. It was 8.25% last week, they put that one up too!
    Andrew Macpherson

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  19. #19
    Team Z8 RRZ8's Avatar
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    Quote Originally Posted by macfly View Post
    What we are talking about here is yearly registration fees, so my silver Z8 just went from $480 to around $900 per annum! Looks like my blue car will go into 'Non Operational' mode, saving me around $800 a year!

    There is a state sales tax too, when you buy any car new or used you have to pay the state of California 9.25% of the purchase price. It was 8.25% last week, they put that one up too!

    Andrew, over here we have what we call BPM, a 25 (!) % tax, and if that is not enough, we pay the VAT over the amount including the BPM tax.... (tax over tax....)... Some people took it to court over here, but you can guess what happened......

  20. #20
    Z8 Madness
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    Quote Originally Posted by macfly View Post
    Looks like my blue car will go into 'Non Operational' mode, saving me around $800 a year!
    Mac, you're a genius. That's what I'll do with my 03. Its a good way of sending a reject message to Sacramento.

    We are also going to cut back on spending as much as possible and obtain what we need from tax-free-out-of-state whenever possible.
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  21. #21
    I know, the saving is well worth the cost of shipping in these Amazon days - wait till they figure out how to tax the net - or worse still that idiot Feinstein succeeds in her attempts to censor it entirely!
    Andrew Macpherson

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