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Thread: OT: Car taxes of $900,000 makes "his heart feel tired "

  1. #41
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    Quote Originally Posted by JRouche View Post
    WoW!! A lot of hate for folks with money here. . . .
    Nah, no hate, just letting him know that many, perhaps most don't see any real worth in wealth. I envy no one, but there are many whom I respect and admire. A few of those are indeed wealthy, but you'd never know it and they don't feel a need to flaunt it. For me, the real measure of a man is found in his efforts to lift and strengthen those around him, not necessarily those of his 'class'.

  2. #42
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    Quote Originally Posted by 3 Phase Lightbulb View Post
    I think a few million on a car (or cars) is typical for someone that lives in a $40M home. Some say a car is the 2nd most expensive purchase. In his case, $3M car is only 7.5% of their $40M home.
    Sure, I get the relativity thing. I was saying that most people with the money to buy one choose not to buy one. Anyone with say $10M in savings COULD afford to buy one if they really wanted it. But most of them don't see the value in owning a car like that, otherwise there would be a lot more of them on the streets. Many people here probably know someone that could pay cash for a car like that, but they choose to drive Toyota, Mazda or Volvo

  3. #43
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    Quote Originally Posted by pinstripe View Post
    .................. Many people here probably know someone that could pay cash for a car like that, but they choose to drive Toyota, Mazda or Volvo
    Warren Buffett and Sam Walton were well known for driving around in basic cars/pickups. I think much of it has to do with whether YOU earned the money or your FATHER did.

    Steve

  4. #44
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    Im not on any kind of high horse thinking im better than others by flaunting my poverty --- it's within everyone's reach and easily attainable...

  5. #45
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    Quote Originally Posted by A.K. Boomer View Post
    Im not on any kind of high horse thinking im better than others by flaunting my poverty --- it's within everyone's reach and easily attainable...
    I've taken the first steps. I quit my job* and have a home shop to waste money on.


    Dan
    * Retired is more accurate, but it sounds better the other way.
    At the end of the project, there is a profound difference between spare parts and extra parts.

  6. #46
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    Quote Originally Posted by pinstripe View Post
    Sure, I get the relativity thing. I was saying that most people with the money to buy one choose not to buy one. Anyone with say $10M in savings COULD afford to buy one if they really wanted it. But most of them don't see the value in owning a car like that, otherwise there would be a lot more of them on the streets. Many people here probably know someone that could pay cash for a car like that, but they choose to drive Toyota, Mazda or Volvo
    I personally don't see the lure of the Bugatti myself. There are certainty more personally exciting things that I'd rather buy with $3M. Someone that buys a Bugatti, clearly has an interest in one. If that interest is simply because it costs so much, then yes that's clearly an ignorant/unspeakable purchase.

  7. #47
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    RE the lottery winners' lament:

    The sad outcome of winning the lottery is often directly related to the traits of the average lottery purchaser. They are willing to take risk. They are not likely to have learned to manage money. They are likely to have long suppressed needs or desires that they can suddenly satisfy.

    There's a reality TV show that my mom watches which deals with a real estate agent who helps lottery winners buy new homes. It's amazing how many $1,000,000 winners want to buy a million dollar home. https://www.hgtv.com/shows/my-lottery-dream-home

    On a related note, no one is finding it astounding that the tax appears to be approximately 25% of the car's initial price?
    At the end of the project, there is a profound difference between spare parts and extra parts.

  8. #48
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    Quote Originally Posted by danlb View Post
    On a related note, no one is finding it astounding that the tax appears to be approximately 25% of the car's initial price?
    The tax amount is based on the Canadian purchase price of ~5.1M. $697K taxes on a ~5.1M purchase, so the provincial tax is ~13.5%
    Plus a 5% federal goods tax: $210k

    ~$907K Canadian, ~$679 US.

  9. #49
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    Quote Originally Posted by 3 Phase Lightbulb View Post
    The tax amount is based on the Canadian purchase price of ~5.1M. $697K taxes on a ~5.1M purchase, so the provincial tax is ~13.5%
    Plus a 5% federal goods tax: $210k

    ~$907K Canadian, ~$679 US.
    Almost... Provincial, 7%, and federal, 5%, add up to 12%. The rest is probably some kind of import duty, or it may be that 1.7% Union Card fee. Not really worth the research.

    As for the rest... just going by the linked article, all about conspicuous consumption. No idea how biased the article is but, again, not really worth the research. Assumptions are the stuff of forum comments after all... be pretty quiet without them. No fun at all

    And again... there are probably a great many good people that happen to have inherited (or have the credit card of someone with) a stupid amount of money. But, I suspect they go to great lengths to avoid news articles about their excesses... Then, there are the other ones. Afluenza... Some people deserve to be laughed at.

    David...
    Last edited by fixerdave; 04-15-2019 at 05:54 PM.

  10. #50
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    Quote Originally Posted by fixerdave View Post
    Almost... Provincial, 7%, and federal, 5%, add up to 12%. The rest is probably some kind of import duty, or it may be that 1.7% Union Card fee. Not really worth the research.
    .
    for autos, your pst % moves up with the car value. I think the highest catagory is 20%
    .

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