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 luxury taxes (taxes on luxuries)

"[Luxury taxes] have some properties which strongly recommend them. In the first place, they can never [...] touch those whose whole income is expended on necessaries; while they do reach those by whom what is required for necessaries, is expended on indulgences. In the next place, they operate in some cases as [...] the only useful kind of sumptuary law. I disclaim all asceticism, and by no means wish to see discouraged, either by law or opinion, any indulgence (consistent with the means and obligations of the person using it) which is sought from a genuine inclination for, and enjoyment of, the thing itself; but a great portion of the expenses of the higher and middle classes in most countries [is incurred] from regard to opinion, and an idea that certain expenses are expected from them, as an appendage of station; and I cannot but think that expenditure of this sort is a most desirable subject of taxation. If taxation discourages it, some good is done, and if not, no harm; for in so far as taxes are levied on things which are desired and possessed from motives of this description, nobody is the worse for them. When a thing is bought not for its use but for its costliness, cheapness is no recommendation. As Sismondi remarks, the consequence of cheapening articles of vanity, is not that less is expended on such things, but that the buyers substitute for the cheapened article some other which is more costly, or a more elaborate quality of the same thing; and as the inferior quality answered the purpose of vanity equally well when it was equally expensive, a tax on the article is really paid by nobody: it is a creation of public revenue by which nobody loses."



-- John Stuart Mill

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updated Wed. March 21, 2018

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They're going to go over the luxury tax threshold, right? To sign Machado, the Yankees will have to go over the luxury tax threshold at some point. If not next season, then soon thereafter, once Judge and Gary Sanchez and Luis Severino start making real money through arbitration. The luxury tax threshold ...
CEO of Mercedes-Benz Australia Horst Von Sanden says Australia's luxury tax on cars is holding back important innovation. The luxury tax was initially brought in to help protect the local car manufacturing industry which is now practically non-existent. Mr von Sanden tells Ross Greenwood they will ...
Last spring, we detailed the spending habits of the Cubs franchise since 1995, which included a significant discussion of the impact of baseball's revised luxury tax system and its impact on team budgets. Those were simpler times. A year later and with additional data on team spending habits in this new tax ...

An updated look at the 2018 payroll for the Boston Red Sox for luxury tax purposes following the signing of J.D.Martinez. The Boston Red Sox will venture back into luxury tax territory in 2018 after ducking the threshold last year to reset the penalties levied against repeat offenders. We expected this would ...
In order for the Rockets to continue to compete for a championship, they may have to go over the luxury tax threshold, and Tilman Fertitta is okay with that. This current Rockets roster is one of the deepest teams in franchise history. At 44-13, Houston has the best record in the NBA and the best record in ...
With a $134 million payroll this season, the Cavs are way over the NBA's $119.3 million luxury-tax line. Because they've been over the line for several years in a row (Gilbert promised, remember), the Cavs will owe $43 million in tax penalties this summer. If James is not here next season, sources said, ...
The luxury tax is again an issue, and it is of great importance to both sides as the Cavs barrel toward Thursday's trade deadline. With a $134 million payroll this season, the Cavs are way over the NBA's $119.3 million luxury-tax line. Because they've been over the line for several years in a row (Gilbert ...
That small niche of South Africans who are not bothered about checking the price tag on items are unlikely to be ruffled by the increase in import duty on luxury goods. This article is reserved for Sunday Times subscribers. A subscription gives you full digital access to all Sunday Times content. Already ... Baby
ATHEN (Sputnik) - Greek Prime Minister Alexis Tsipras proposed Saturday to introduce luxury taxes to cover the financial holes in the EU budget after the ... European Union and we do not want to increase the taxpayer burden, we could find new financial sources… by introducing luxury taxes," Tsipras told ... Baby
Baseball has a timeless tradition of unwritten rules, but this off season, a new law has been added: “Thou shalt not exceed the luxury tax threshold”. Because of the escalating surcharges in the current competitive balance tax (CBT) scheme, avoiding the penalty has become a priority for every team, even ... Baby
That small niche of South Africans who are not bothered about checking the price tag on items are unlikely to be ruffled by the increase in import duty on luxury goods. This article is reserved for Sunday Times subscribers. A subscription gives you full digital access to all Sunday Times content. Already ... Baby
In order for the Rockets to continue to compete for a championship, they may have to go over the luxury tax threshold, and Tilman Fertitta is okay with that. This current Rockets roster is one of the deepest teams in franchise history. At 44-13, Houston has the best record in the NBA and the best record in ... Baby
Here's why: Teams can use the full mid-level exception when they are under the tax apron ($6 million over the luxury tax level) AFTER the exception has been used. This summer, the apron will be set at roughly $127 million and the full mid-level exception will be roughly $8.5 million. Importantly, as of July 1 ... Baby

Minister of Industry, Airlangga Hartanto, mentioned that the reduction of import and luxury taxes is to increase the basis for exportation of the vehicle segment. ... Mr. Hartanto admits that they are still calculating the exact formula to reduce the luxury tax, however it is certain that it will be lump-sum based as ... Baby
The Boston Celtics are a popular subject right now. After all, there is less than a week until the trade deadline and the Celtics sit atop the East with a treasure chest of goodies burning a hole in their pocket. The defending conference champions, the Cleveland Cavaliers, are in disarray and the Celtics are ... Baby
With a $134 million payroll this season, the Cavs are way over the NBA's $119.3 million luxury-tax line. Because they've been over the line for several years in a row (Gilbert promised, remember), the Cavs will owe $43 million in tax penalties this summer. If James is not here next season, sources said, ... Baby
The luxury tax is again an issue, and it is of great importance to both sides as the Cavs barrel toward Thursday's trade deadline. With a $134 million payroll this season, the Cavs are way over the NBA's $119.3 million luxury-tax line. Because they've been over the line for several years in a row (Gilbert ... Baby
In the United States, Boxed has made the pink tax central to its mission, ensuring that women don't pay more for products like razors, body wash, and deodorant, and eats the cost of the luxury tax on tampons. CEO Chieh Huang told CBS News that he was disappointed there hasn't been more movement ... Baby
NEW YORK (CBSNewYork) — The Yankees would love to sign free agent Yu Darvish, but apparently not at the expense of the 2018 luxury tax threshold. According to The Athletic's Ken Rosenthal, the veteran right-hander is waiting patiently for the Yankees, or his reported first choice, the Los Angeles ... Baby
The Los Angeles Dodgers have led the Majors in payroll each of the past four seasons, which has come with surpassing the luxury tax threshold each year. But change is afoot. The Dodgers have put an emphasis on remaining below the threshold for the 2018 season, as it would reset their luxury tax ... Baby
Going into the luxury tax seems unlikely, even to bring back Ellington, for a Heat team that's not considered a title contender. So, here are Miami's options if it wants to avoid the tax: let Ellington sign with another team in free agency OR try to trade a player/players for less 2018-19 salary to create cap room ... Baby
Eventually. Both things can be true. The Giants don't have to be cheap. The Giants can still make a concerted effort to stay under the luxury-tax threshold this year so that they can spend next year without losing extra cash and international bonus money and draft picks. But there should be a payoff at the end ... Baby
In waiting for baseball to begin again, I find myself asking “When will then be now?” Regardless of the actual time between the end of one season and the beginning of a new one, it seems to feel longer each year. Perhaps that's especially true this year as my non-baseball diversions–college basketball and ... Baby
For almost five years now we've heard about the luxury tax plan. The Yankees were planning to get under the $189M luxury tax threshold back in 2014, but when they missed the postseason in 2013, that went by the wayside. Nowadays we're talking about the Yankees getting under the $197M luxury tax ... Baby
As made painfully evident this offseason, the Yankees have no plans to go over the luxury tax threshold of $197 million. They would rather spend less money and give up prospects. There's nothing really wrong with that. Again, they have an abundance of talent and momentary need should supersede the ... Baby
To help increase funding for Kentucky's pension predicament, Louisville Mayor Greg Fischer suggested last week that lawmakers tax luxury items, warning that huge pension payments could lead to large city budget cuts in 2018. “We're always ready to deal with the unexpected, but this will be difficult for ... Baby
[Ed. note: Those of you who frequent the comments know that LL is lucky to boast a stable of lawyers, which is both helpful and necessary considering the behavior of those associated with the site. Today we are very happy to introduce Tim Cantu, who you may know as imsorrydave, who has spent some ... Baby
If Yankees general manager Brian Cashman is serious about staying under the $197 million luxury tax threshold for 2018, he'll have to get creative to plug the remaining few holes in the roster. After re-signing of CC Sabathia to a one-year, $10 million contract, the Associated Press estimates that the ... Baby
It's become all the rage in Major League Baseball. It's what drives good teams. It's what drives average teams. It's what drives really bad teams. No matter your team's current competitive situation, the Competitive Balance Tax has been driving your team's front office for years, and that's not going away ... Baby
Lots of guesses in this week's show, including how long Matt Kemp will remain with the team in his second tenure in Los Angeles, where Adrian Gonzalez might sign, and whether the Dodgers will add another starting pitcher before spring training. We talked about the missed opportunity of Giancarlo ... Baby
... is my rough breakdown of this year's total, which has a few estimates (in italics) and doesn't account for minor league salaries nor the unknown amount the Mets paid for Curtis Granderson after his August trade. But as a general idea, here is where the Dodgers stood in 2017 from a luxury tax perspective: ... Baby
The Giants traded Matt Moore to save $9 million and get them closer to their dream of reloading the roster and staying under the luxury tax line at the same time. The Giants signed a backup catcher for $2.5 million, getting them no closer to improving the 2017 roster, but pushing them that much closer to the ... Baby
Last spring, we detailed the spending habits of the Cubs franchise since 1995, which included a significant discussion of the impact of baseball's revised luxury tax system and its impact on team budgets. Those were simpler times. A year later and with additional data on team spending habits in this new tax ... Baby
An updated look at the 2018 payroll for the Boston Red Sox for luxury tax purposes following the signing of J.D.Martinez. The Boston Red Sox will venture back into luxury tax territory in 2018 after ducking the threshold last year to reset the penalties levied against repeat offenders. We expected this would ... Baby
The luxury tax threshold will win this free agency standoff. The owners are going to make their millions anyway. The players are the ones without jobs. Some free agents have already made a fortune and can be patient, even if it means signing after Opening Day. What about a guy like, say, Jonathan Lucroy ... Baby
The Dodgers players find themselves in an awkward position as pitchers and catchers report to spring training in one week. There is currently a dispute between the players and players union of Major League Baseball, and the owners of Major League Teams. With so many big-name free agents still on the ... Baby
Does he fit under the luxury tax threshold? Probably not. Darvish is looking at $20M+ per season on a however many years contract, and according to our estimates, the Yankees have about $25M in payroll space under the $197M luxury tax threshold. They need to set aside some money for midseason ... Baby
Lots of guesses in this week's show, including how long Matt Kemp will remain with the team in his second tenure in Los Angeles, where Adrian Gonzalez might sign, and whether the Dodgers will add another starting pitcher before spring training. We talked about the missed opportunity of Giancarlo ... Baby
Here's the transcript of Warriors owner Joe Lacob's appearance on my podcast last Friday, and yes, we had a very wide-ranging conversation that included me asking whether he wanted to run for president, the Stack's breakfast restaurant chain, and maybe some basketball, too. Kevin Durant. Stephen ... Baby
By avoiding the so-called “luxury tax” for one year, the Dodgers can allocate more of their internal payroll to player salaries when next year's free agents hit the market. The Dodgers have paid nearly $150 million in taxes over the last five years, according to the AP. Their 2017 payroll came to $243.7 million ... Baby
The Giants traded Matt Moore to save $9 million and get them closer to their dream of reloading the roster and staying under the luxury tax line at the same time. The Giants signed a backup catcher for $2.5 million, getting them no closer to improving the 2017 roster, but pushing them that much closer to the ... Baby
As the off-season progresses, the Yankees' payroll situation will evolve. They'll add guaranteed contracts through trades and free agency (or even extensions) before gaining clarity on the salaries for arbitration-eligible and reserve clause players. Here we'll keep track of where they stand ... Baby
The Dodgers have been somewhat hesitant on Stanton because of their desire not to exceed the $197 million luxury tax threshold or add another nine-figure contract to the books beyond Clayton Kershaw's (and Adrian Gonzalez's, which expires in a year). Meantime, the rival Giants are hoping Stanton ... Baby
The Dodgers are seen as a team that has unlimited funds to spend on its roster construction. While the Dodgers are one of the wealthier teams in baseball, the luxury tax system will keep them in check. The Dodgers will once again be looking for ways to improve their club this offseason and find a way to ... Baby
For 2018, the San Francisco Giants currently owe just under $167 million to players already under contract, when accounting for Matt Cain's ... Baby
There are six MLB teams that are expected to pay the luxury tax this year, according to payroll reports obtained by USA Today. Based on that ... Baby


 

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luxury taxes