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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 logo
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updated Tue. January 2, 2024

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 ...
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 ...


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