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<a href="http://www.accessmylibrary.com/coms2/summary_0286-7574384_ITM" title="Facts and information about OPINION: California Car Tax Hike Backfires.">OPINION: California Car Tax Hike Backfires.</a>
OPINION: California Car Tax Hike Backfires.
Knight Ridder/Tribune Business News
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October 27, 2003 |
COPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
The Orange County Register, Calif. Knight Ridder/Tribune Business News
Oct. 27--The tripling of the car tax is decreasing luxury sales, possibly costing the state treasury more than it brings in.
Tax increases bring unforeseen consequences. That's becoming clear with Gov. Gray Davis' tripling of the car tax, which took effect Oct. 1 and which Gov.-elect Arnold Schwarzenegger says he will revoke upon taking office next month.
"Statewide sales of new luxury motor vehicles plunged 40 percent from Sept. 1 to Oct. 19 -- a period that included a tripling of California's vehicle license fee -- according to an affiliate of J.D. Power and ...
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Source: HighBeam Research, OPINION: California Car Tax Hike Backfires.