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Originally Posted by XutvJet
I think this is such BS that rich people use this tax loophole to avoid paying all their taxes on their expensive cars. The justification being "..taxes are just too high on my hyper car". Basically the thought is, "I'm rich and I'm better than you thus the state I live in tax laws don't apply to me because I have the means to take advantage of the system through my legal team and a fake LLC".
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I’m upper middle class, by no means am I rich. This “loophole” is available to anyone, not just wealthy people. I live in Colorado, where we have shitty roads that are coupled with ridiculously high registration and insurance costs. Within reason anything I can do to save on these costs would be welcomed, for perspective the registration is going to run me around $2-$2.5K. Insurance with no accidents, an 800 credit score and bundled with my home is $3K per year. My taxes are actually not terrible as I live in an unincorporated part of the county I reside in.
I don’t understand why there is hate for this? I don’t know anyone in my circle of people who doesn’t feel like Colorado has a shakedown scam with regards to reg/insurance costs, this includes people all over the income spectrum.