buying The Poverty Tax: How One State Plans To Make The Poor Pay More

01:35  02 may  2017
01:35  02 may  2017 Source:   MSN

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Fresh off a 0 million tax hike for used car owners, one state is about to target the poor for over 0 million more . Those of us who lease our vehicles, and now wanted to buy that vehicle after the lease was up, were now liable to pay that same tax twice.

Fresh off a 0 million tax hike for used car owners, one state is about to target the poor for over 0 million more . Sometimes poverty is sponsored by the government. This is one of those times.

  The Poverty Tax: How One State Plans To Make The Poor Pay More © Provided by TIME Inc.

Imagine you're finally about to buy the car of your dreams after working hard for many years and saving up a healthy nest egg.

You go for a drive. Love it. Sign the bill of sale, and head out to the local government office that will issue you a brand new title in your name.

A few years ago that title would have only cost you $18. Today, it can easily cost a resident of Georgia over $1,000. Thanks to a Title Ad Valorem Tax that the state of Georgia is now going to use to destroy the financial foundation of anyone buying a moderately priced used car.

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It works like this. Let's say you buy a 2012 Toyota Camry SE for $10,000. Just a few short years ago the State of Georgia would only tax you at 4% of the purchase price. That would amount to $400.

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Fresh off a 0 million tax hike for used car owners, one state is about to target the poor for…Read more Read more .

In the most recent tax bill, House Bill 340, that Georgia resident who paid 0 back in 2012 on a ,000 car will now pay 9. The snakes who inflict bogus fees in the hundreds of dollars now want residents to pay tax based solely on the states pre-determined value of the vehicle.

  The Poverty Tax: How One State Plans To Make The Poor Pay More © Provided by TIME Inc.

But in early 2013, a new law was passed that would increase the overall state sales tax of a used car up to 6.5%. That $400 became $650. Just two years later it went up to 7%. Within three years, that Georgia resident was now getting hit for a $700 tax bill if they chose to buy a five year old Camry. A 75% tax increase from 2012.

Some of us would say, "Whoa! Wait! How can they get away with that?" Well, they didn't exactly get away with that.

They got away with more than that. Those of us who lease our vehicles, and now wanted to buy that vehicle after the lease was up, were now liable to pay that same tax twice. That $700 would become a $1400 suckerpunch for those of us who decide to become long-term owners instead of perpetual debtors.

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The Poverty Premium. How poor households pay more for essential goods and services. Can markets be made to work to ensure that low-income consumers get the benefits of competition and deregulation? 7. A fairer tax system:The government is a guilty party in making the poor pay

Washington state has the most regressive tax policy, with the poorest paying 16.8 percent share of their income. (Institute of Tax and Economic Policy). Giving too much weight to sales taxes isn't just bad for those living below the poverty line, it's bad for local economies.

By early 2017, these new taxes had easily grossed the state of Georgia an extra billion dollars and change in additional revenue. If you thought that wasn't enough, you would be right on the money. The legislators in Atlanta were getting ready to wield yet another tax on top of that 75% tax increase.

  The Poverty Tax: How One State Plans To Make The Poor Pay More © Provided by TIME Inc.

Keep in mind there was no extreme financial crisis at the time. Unlike states that have experienced severe budgetary issues, such as Illinois and New Jersey, Georgia hasn't been anywhere near a financial tipping point. But they did have one irreversible weakness that seems to afflict most states that have experienced these tax hikes.

A de facto one party government. When you have one political party that calls all the shots, it's far easier for a lobbyiing organization to pay off those who write the legislation. In this case, it's a unique type of scumbag organization that has successfully lobbied for all these fees on used cars.

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Immigrants are poorer than natives. Although most poor people in the United States (84 percent). These efforts are occurring against the backdrop of international efforts to make poverty history. 54 Ami Nagle and Nicholas Johnson, A Hand Up: How State Earned Income Tax Credits Help Working

His poverty plan sharply increases spending on the Earned Income Tax Credit. The downside of block grants is the flexibility they give state and local officials. (For more on how block grants work, see Danielle Kurtzleben's excellent article.)

The Georgia Automobile Dealers Association. Those financially gifted corrupt lowlifes who wouldn't let Tesla sell more than 150 cars in the state of Georgia annually. This legalized monopoly, affiliated with the National Auto Dealers Association that wanted to ban Tesla from creating their own dealerships, has operated in our state like a legalized theft cartel. Thanks to a long list of so-called Republican lawmakers that have taken money from the organization and done their devilish bidding to screw the common citizen.

In the most recent tax bill, House Bill 340, that Georgia resident who paid $400 back in 2012 on a $10,000 car will now pay $919. The snakes who inflict bogus fees in the hundreds of dollars now want residents to pay tax based solely on the states pre-determined value of the vehicle. In this case, the state now values that five-year old Camry at $13,100. There are no mileage adjustments, No adjustments for features and options. Just a big fat fee that must be paid in 30 days.

  The Poverty Tax: How One State Plans To Make The Poor Pay More © Provided by TIME Inc.

This type of legislation has been designed to favor only one type of customer. The lease customer. Instead of paying an extra $919 up front, this amount can be rolled into the lease price so that the owner can pay for it little by little. That's not really for their benefit. It's for the new car lobbyists whose dealers will now get more lease customers since it cost so much more money to buy a car.

Sometimes poverty is sponsored by the government. This is one of those times. By the way, there are now 49 other states that can easily do the same thing. How does your state handle the lucrative taxing of used cars?

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The Poverty Tax: How One State Plans To Make The Poor Pay More .
Imagine you're finally about to buy the car of your dreams after working hard for many years and saving up a healthy nest egg. You go for a drive. Love it. Sign the bill of sale, and head out to the local government office that will issue you a brand new title in your name.A few years ago that title would have only cost you $18. Today, it can easily cost a resident of Georgia over $1,000. Thanks to a Title Ad Valorem Tax that the state of Georgia is now going to use to destroy the financial foundation of anyone buying a moderately priced used car. Research Research New Used New & Used Make (e.

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