Bad Idea! New York State Luxury Tax?

December 16, 2008 • Fashion

Fur_coat_2I am really starting to dislike New York State Governor David A. Paterson. He is proposing an additional 5% sales tax on luxury goods such as jewelry and furs costing over $20,000 as one of 181 tax increase proposals (like taxing soft drinks!) in order to balance the state’s 2009-10 budget deficit.

The news gets worse effecting not just those dropping major coin on luxury goods in the state. The Governor is also proposing the elimination of the sales tax exemption on clothing and footwear priced under $110, but would replace it with two, one week exemption periods on clothing and footwear priced under $500.

Paterson’s budget proposal lists hundreds of tax increases, including one that personal services such as beauty, barbering, manicure, pedicure, massage, health salon orDiamond_necklace_2  gym services would be subject to sales taxes statewide. Holy cow, the man is trying to ruin my life! Everything that brings me pleasure he wants to tax! Sorry, but don’t you think this tax is aimed directly at women? Is he saying we are frivolous for wanting to look good?

Paterson’s budget proposals to close a record $13.7 billion deficit recommends increased taxes or fees that would produce $3.1 billion during the 2009-10 fiscal year.

In order to comply with all the budget proposals, legislation will be needed for the 181 suggested increases and it is unclear whether the plans will be approved by the Legislature by the April 1 deadline for the budget.

I have a better idea…maybe the state should stop hemorrhaging the taxes they already receive! Reduce government waste! More taxes is not the answer. Heck, I say buy your luxury goods in other states which this tax would ensure. Even Chicago with it’s hideous sales tax looks better now!

Read "New York State Proposes Luxury Tax" here.

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