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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 Tue. January 23, 2018

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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 ...
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 ...

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 ...
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 ...
[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 ...
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 ...

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 ...
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 ...
... 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: ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...

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 ...
For 2018, the San Francisco Giants currently owe just under $167 million to players already under contract, when accounting for Matt Cain's ...
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 ...
The luxury tax threshold will be $197 million in 2018, $206 million in 2019. The Dodgers are currently paying at a 50% rate for any payroll over ...
Unshackled from luxury-tax constraints, Dombrowski could approach the offseason by doing what he loves: shopping for superstars. And don't think for a second ...
A dozen questions and eleven answers in this week's mailbag. RABmailbag (at) gmail (dot) com is where you can send all your questions ...
After staying under the luxury tax threshold last season, it looks like the Red Sox and their GM, Dave Dombrowksi will open up their wallet this ...
Boston Red Sox owner John Henry has told Dave Dombrowski that he can now spend. This is the result of a luxury tax reset that lessens the ...
Still, the team's willingness to pay the luxury tax ostensibly ensures that they will hotly pursue at least one big-name bat, be it in free agency or ...
When accounting for guaranteed contracts and raises for players under team control, the Boston Red Sox are nearing the luxury tax before free ...
The Red Sox will be paying a hefty sum in luxury tax by adding any of those pieces, but they'd like to keep from having their top draft pick ...
Now that the 2017 season has come to a close for the Yankees, Hal Steinbrenner will continue with his plan to shed salary in an effort to get ...
Milos Teodosic, the rookie point guard for the Los Angeles Clippers, recently suffered a plantar fascia injury and will be out indefinitely.
A significant 25 per cent "luxury tax" has been suggested to be enforced on restaurants and hotels serving food to the rich after 8pm at night, the ...
Lahore: Punjab Minister for Industries, commerce and Investment Sheikh Allauddin proposed the imposition of a 25% luxury tax on posh ...
For the Boston Red Sox to add payroll they would have to cut payroll to remain under the luxury tax. Would trading Rick Porcello solve that?
Whatever the Red Sox may prefer, the odds are that the organization will again go over the luxury tax line in 2018, Alex Speier of the Boston ...
The Boston Celtics saw the deadline come and go on Monday afternoon after not being able to work out a new long-term extension with ...
Mrs. Adeosun pointed out that the luxury tax planned by the federal ... TIMES, Mrs. Adeosun had explained government's plan on luxury taxes.
Kemi Adeosun, minister of finance, says the federal government will soon start collecting luxury taxes. Addressing journalists at the annual ...
We get it. You really dislike ads. Here's an idea; how about supporting Carscoops by sharing our content on social media channels like ...
Would it be worth it to not pay the luxury tax penalties of just releasing ... Cleveland would save $10M in luxury taxes if they moved the $2.5M ...
The Thunder, locked in a tiny NBA market by choice, couldn't afford to pay the luxury tax for a decade, even if it meant competing for and even ...
Los Angeles -- The Dodgers gained an enormous amount of payroll flexibility in their five-player trade with the Braves on Saturday, with getting under the competitive balance tax threshold suddenly a real possibility even as soon as 2018. For both teams, it seems the trade was less about the players ...
However, the luxury-tax-financed fund could be able to buy sites where affordable housing exists and residents are at risk of a rent hike.
Cleveland would save $10M in luxury taxes if they moved the $2.5M Richard Jefferson contract. 18-19 salary for Jefferson is non-guaranteed.
Wade's contract will pay him less than the veteran minimum of $2.55 million, a deal the Cavaliers struck to avoid additional luxury tax penalties.
There is no compelling reason why you should necessarily believe, let alone care about, the exhaustive ESPN story about 14 NBA teams ...
Should the owner have to pay a luxury sales tax? It's one of the big proposals in this year's Seattle mayor's race.
Sources: Bucks to waive center Spencer Hawes to avoid luxury-tax liability ... In order to move beneath the luxury-tax threshold, the Milwaukee Bucks waived ...
Gilbert, who is a billionaire, has been in the luxury tax since LeBron returned. It's netted him three Finals trips and one title, so it was worth it.
Indonesia is a market dominated by MPVs. Besides the fact that the people carriers can well, carry more people, why aren't sedans more ...
Concessionary period to pay annual luxury tax for new vehicles ... gazetted international organizations are exempted from these luxury taxes.


 

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luxury taxes