Ferrari: Tax The Rich, We Can't Do It All Ourselves!

ferrari tax the rich we cant do it all ourselves

If Ferrari is known for one thing, it’s super-fast, good-looking cars. But if Ferrari is known for two things, that second thing would be its uncanny ability to separate the wealthy from their hard-earned (or not) cash. And apparently the brand is so good at extracting revenue from its super-wealthy clientele that it doesn’t mind a little competition. The Wall Street Journal reports that, when asked by the Italian paper Republica how governments should overcome their budget crises, Ferrari Chairman Luca DeMontezemolo replied

You have to begin by asking it of those who have most, because it is scandalous that it should be asked of the middle class

Class warfare, or just the natural perspective of a guy who regularly charges the super-rich $2,300 for Alcantara trunk liner and $1,800 for a spare wheel? We report, you decide…

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  • Tankinbeans Tankinbeans on Sep 02, 2011

    I'm not here to get political because I don't care enough about either side to have a dog in the fight, but I always get frustrated I read about a hypothetical tax bracket of 99% and people say, "how would you feel if you only brought home 1% of your income..." Income tax 101 says it would not happen that way because these are marginal rates. I am by no means an expert, but I did pay attention when they were talking about tax rates. Just to keep things in nice round numbers. Say we have a 10% bracket, a 15% bracket, a 25% bracket, and a 30% bracket. We'll keep the income numbers round so that it's easier to understand. 10% tax on income up to $1000 $1000 * 10% = $100 15% on income between $1001 - 2000 $999 * 15% = $149.85 25% on income between $2001 - 3000 $999 * 25% = $249.75 30% on income between $3001 - 4000 $999 * 30% = $299.70 Total tax on $4000 of income = $799.30 Total percantage of money taken in taxes = $799.30/$4000 = 19.98% I know that I have grossly oversimplified this, but I had to register my frustration about this little point. Like I said, I'm not trying to take political sides here as I don't care about either party one way or the other. Voting time always amounts to choosing the lesser of two evils and which person's lies are least offensive.

  • Cackalacka Cackalacka on Sep 02, 2011

    Not to delve too deeply into the works of Andres Serrano, Warren Buffet's salary, or healthcare, I will make the following observation: Over the past ten years the two types of cars I have seen considerably more of (over the previous 10) are: - Supercars - Beaters held together with bondo/duct tape The nation/economy would be/reflect a better place if the distribution/condition of the cars would return to a more normal distribution.

  • Burritolikethesun Burritolikethesun on Sep 02, 2011

    Took the world's biggest man-made calamity to sort this out last time. This time we have way bigger bombs.

  • Stationwagon Stationwagon on Sep 03, 2011

    tax the rich, end the wars, give women on government assistance a depo-provera shot every three months, tax churches with giftshops eg. Megachurches, gradually end social security retirement benefits, before it ends raise the $90,0000 income cap taxable by social security. all pensions should only be paid for up to 15 years after retirement. Use and hire more people to work as government employees, rather than shelling out billions to contractors. Strengthen clean air and clean water regulations, stop appointing former CEO's and lobbyist to the heads of agencies especially regulatory agencies. Term limits of one term. Encourage Nuclear power plants, END the department of homeland security and department of education. End the h1-b visa program, and End subsidies. A progressive tax system that has income brackets and, only one deduction allowing to pay no taxes if over %50 of your assets have been destroyed in a natural disaster and you are worth less than $800,000.

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