Counterfeit Fashion. Never a Good Idea & Costs Tax Revenues

March 27, 2009 • Fashion

Counterfeit bags

Still think buying that counterfeit bag is a good idea? New York City Police Commissioner Raymond Kelly said last week that the
national domestic counterfeit industry costs New York City about $1 billion
in lost tax revenue annually. Speaking at an anticounterfeiting summit
hosted by Harper’s Bazaar, Kelly called the manufacturers and
distributors of knockoffs, responsible for about $600 billion in sales
nationally, “a shadow industry that continues to lengthen its reach.”

In 2008 the New York Police Department seizures
related to counterfeit goods came to $25 million and made more than 2,000 arrests for trademark
counterfeiting. Still, Kelly called for stricter punishments for the
crime. “True counterfeiting is a threat to democracy and a threat to
the rule of law,” he said.

Hear, hear! Guess that's why NYC's taxes are so high.

Source: WWD

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