Quote:
Originally Posted by old timer  ...(One guy makes 20K, the other 300K)
Run the numbers on a the RATE of total income each pays on on 5% sales tax.
Poor Boy buys a $20,000 car pays $1000 or 5.0% of his income.
Rich Boy buys a $60,000 car pays $3000 or 1.0% of his income.
Poor Boy has 5 times the tax bite, or rate of tax on a car. Rich Boy hardly feels sales taxes.... |
There is the big problem! Poor Boy that makes only 20K per year has no business buying a 20K car! I make more than that and I don't even do that. The last car I bought was 2 years ago and it was a '98 Cadillac DeVille for less than $10K. Eight years old at the time and still driving it today.
Rich Boy also probably wouldn't buy a $60K car if he makes $300K. He'll probably be driving a Mercedes or a BMW possibly even a Bentley. The Mercedes or the BMW would probably cost $75-100K. The Bentley will easily cost $200K.