Art Triggs
NAXJA Forum User
- Location
- Dutchess Co.,NY
Let this guy know what you think of this "brilliant"idea, I did.....:flamemad:
From the Appleton Post-Crescent.....
Posted Dec. 12, 2004
Alger proposal
The investment firm of Fred Alger Management has proposed that the Bush administration tax owners of cars and SUVs rated at less than 30 mpg $1,000 in 2008, with the tax rising $500 each year the vehicles remain on the road.
For perspective, a vehicle that gets 30 mpg and is driven 15,000 miles per year consumes $1,000 worth of gas annually, assuming gas is priced at $2 per gallon.
If the car gets 15 mpg, the annual cost for gas, at $2 per gallon, would be $2,000
At 20 mpg, it would cost $1,500 per year
At 40 mpg, it would cost $750 per year
At 50 mpg, it would cost the owner $600 per year.
Local SUV owners cool to call for guzzler tax
Proposal would make vehicle owners pay $1,000 fee
By Ed Lowe
Post-Crescent staff writer
APPLETON — Some local motorists say a national firm’s pitch to tax owners of gas guzzlers at least $1,000 per year would take them for a ride.
“You’re talking civil war,” assessed retiree Tom Hollenback, owner of a 1986 three-ton-capacity pickup.
“Look at the number of people who are driving these older cars,” said Hollenback, 75, of Appleton. “When the lottery comes through, we’ll all buy new cars.”
Drivers of smaller, fuel-efficient cars interviewed in downtown Appleton tended to be more receptive to the plan by principals of the investment firm Fred Alger Management that seeks to cut U.S. oil imports in half within 10 years.
In a letter to the White House distributed to media Nov. 29, Alger firm leaders proposed the $1,000 tax on owners of cars and sport-utility vehicles rated at less than 30 miles per gallon starting in 2008. The proposal also seeks to increase the annual tax by $500 each year the fuel-thirsty cars and SUVs remain on the road.
The Alger firm, a New York-based manager of investment portfolios for governments, religious institutions corporate pensions and insurers, has about $10 billion under management, according to Hoover’s Online financial information service. The company, established in 1964, manages eight growth-focused mutual funds and provides other investment services.
It maintains the tax plan would slash U.S. oil imports, stimulate technological development in and market demand for the U.S. auto industry and pump about $200 billion in new tax revenue into the U.S. economy each year.
“It’s a good idea,” said 22-year-old Tong Vang of Appleton, a driver of a Honda Civic who conceded the tax likely would dash his plan to buy a SUV a few years down the road.
Margaret Kubek of Appleton, a Subaru driver, deemed the tax strategy flawed, but said bold action is needed to sever America’s thirst for fossil fuels shipped from other countries.
“I’d rather do that than nothing,” Kubek said. “But couldn’t the government tax the manufacturers of the vehicles that are guzzling the gas instead of the consumers?”
Principals of the Alger firm, unavailable for comment through calls placed to the firm’s publicist, have not implied that their suggestions to the White House generated anything akin to a favorable response.
Not even Outagamie County Supv. Fred Techlin, so far unsuccessful in his bid to prioritize energy conservation and U.S. independence from foreign oil in relevant county decisions, would endorse Alger’s proposal.
“I’m skeptical of any use of the tax code to manipulate people’s buying habits and behaviors,” said Techlin. “It’s good that people are discussing these ideas, but I don’t like edicts coming down from on high.”
Techlin’s proposal, sent back for committee review last month after other supervisors criticized its tone and lack of specific directives, would have mandated periodic reviews of fuel-conservation efforts by each department of county government. Techlin said he doesn’t yet know if he will submit the proposal in an amended form.
Donna Harwood of Appleton, a 19-year-old SUV owner, panned the plan. “Ridiculous,” she called it. “I don’t have that kind of money.”
Fred Alger, chairman of the management firm that bears his name, made clear in a commentary published Nov. 16 that his call for energy policy reform is driven by the bottom line, not feel-good ideals.
“As investors, we believe that a policy of energy independence could have substantial benefits to the economy, to the markets, and to business growth across industries,” Alger wrote. “Makers of hybrid cars and more fuel-efficient vehicles are enjoying record profits.”
Greg Woodard, 18, a Lawrence University music student from Boston who owns a Toyota compact, said he felt the plan could work, provided the public is educated on the need for the tax and its goals.
“I don’t think there’s a ghost of a chance (for the plan to move ahead) under this administration, but it eventually will have to come about in some form,” Woodard said.
Kiley Offenstein, 20, a University of Wisconsin-Oshkosh student commuting to work in her Plymouth Acclaim, said she believes the tax is justified by foreign policy concerns, but worried it could unfairly burden people unable to afford newer cars.
Business owner Emilie Sabol suggested the intent of the tax, as well as the tax itself, could cause her to consider swapping her Mercedes for a more fuel-efficient ride.
“If I had to, I would,” Sabol said. “I think our cars should get better gas mileage.”
Jason Lathrop, 21, of Appleton, driver of both a large Volvo station wagon and a small VW, said the tax plan sounds “far-fetched” politically, but constructive in its goals.
“A lot of people own SUVs for no reason,” he said. “This would provide a lot of money-making incentive for the car companies to produce the more efficient vehicles.”
Ed Lowe can be reached by e-mail at [email protected]
From the Appleton Post-Crescent.....
Posted Dec. 12, 2004
Alger proposal
The investment firm of Fred Alger Management has proposed that the Bush administration tax owners of cars and SUVs rated at less than 30 mpg $1,000 in 2008, with the tax rising $500 each year the vehicles remain on the road.
For perspective, a vehicle that gets 30 mpg and is driven 15,000 miles per year consumes $1,000 worth of gas annually, assuming gas is priced at $2 per gallon.
If the car gets 15 mpg, the annual cost for gas, at $2 per gallon, would be $2,000
At 20 mpg, it would cost $1,500 per year
At 40 mpg, it would cost $750 per year
At 50 mpg, it would cost the owner $600 per year.
Local SUV owners cool to call for guzzler tax
Proposal would make vehicle owners pay $1,000 fee
By Ed Lowe
Post-Crescent staff writer
APPLETON — Some local motorists say a national firm’s pitch to tax owners of gas guzzlers at least $1,000 per year would take them for a ride.
“You’re talking civil war,” assessed retiree Tom Hollenback, owner of a 1986 three-ton-capacity pickup.
“Look at the number of people who are driving these older cars,” said Hollenback, 75, of Appleton. “When the lottery comes through, we’ll all buy new cars.”
Drivers of smaller, fuel-efficient cars interviewed in downtown Appleton tended to be more receptive to the plan by principals of the investment firm Fred Alger Management that seeks to cut U.S. oil imports in half within 10 years.
In a letter to the White House distributed to media Nov. 29, Alger firm leaders proposed the $1,000 tax on owners of cars and sport-utility vehicles rated at less than 30 miles per gallon starting in 2008. The proposal also seeks to increase the annual tax by $500 each year the fuel-thirsty cars and SUVs remain on the road.
The Alger firm, a New York-based manager of investment portfolios for governments, religious institutions corporate pensions and insurers, has about $10 billion under management, according to Hoover’s Online financial information service. The company, established in 1964, manages eight growth-focused mutual funds and provides other investment services.
It maintains the tax plan would slash U.S. oil imports, stimulate technological development in and market demand for the U.S. auto industry and pump about $200 billion in new tax revenue into the U.S. economy each year.
“It’s a good idea,” said 22-year-old Tong Vang of Appleton, a driver of a Honda Civic who conceded the tax likely would dash his plan to buy a SUV a few years down the road.
Margaret Kubek of Appleton, a Subaru driver, deemed the tax strategy flawed, but said bold action is needed to sever America’s thirst for fossil fuels shipped from other countries.
“I’d rather do that than nothing,” Kubek said. “But couldn’t the government tax the manufacturers of the vehicles that are guzzling the gas instead of the consumers?”
Principals of the Alger firm, unavailable for comment through calls placed to the firm’s publicist, have not implied that their suggestions to the White House generated anything akin to a favorable response.
Not even Outagamie County Supv. Fred Techlin, so far unsuccessful in his bid to prioritize energy conservation and U.S. independence from foreign oil in relevant county decisions, would endorse Alger’s proposal.
“I’m skeptical of any use of the tax code to manipulate people’s buying habits and behaviors,” said Techlin. “It’s good that people are discussing these ideas, but I don’t like edicts coming down from on high.”
Techlin’s proposal, sent back for committee review last month after other supervisors criticized its tone and lack of specific directives, would have mandated periodic reviews of fuel-conservation efforts by each department of county government. Techlin said he doesn’t yet know if he will submit the proposal in an amended form.
Donna Harwood of Appleton, a 19-year-old SUV owner, panned the plan. “Ridiculous,” she called it. “I don’t have that kind of money.”
Fred Alger, chairman of the management firm that bears his name, made clear in a commentary published Nov. 16 that his call for energy policy reform is driven by the bottom line, not feel-good ideals.
“As investors, we believe that a policy of energy independence could have substantial benefits to the economy, to the markets, and to business growth across industries,” Alger wrote. “Makers of hybrid cars and more fuel-efficient vehicles are enjoying record profits.”
Greg Woodard, 18, a Lawrence University music student from Boston who owns a Toyota compact, said he felt the plan could work, provided the public is educated on the need for the tax and its goals.
“I don’t think there’s a ghost of a chance (for the plan to move ahead) under this administration, but it eventually will have to come about in some form,” Woodard said.
Kiley Offenstein, 20, a University of Wisconsin-Oshkosh student commuting to work in her Plymouth Acclaim, said she believes the tax is justified by foreign policy concerns, but worried it could unfairly burden people unable to afford newer cars.
Business owner Emilie Sabol suggested the intent of the tax, as well as the tax itself, could cause her to consider swapping her Mercedes for a more fuel-efficient ride.
“If I had to, I would,” Sabol said. “I think our cars should get better gas mileage.”
Jason Lathrop, 21, of Appleton, driver of both a large Volvo station wagon and a small VW, said the tax plan sounds “far-fetched” politically, but constructive in its goals.
“A lot of people own SUVs for no reason,” he said. “This would provide a lot of money-making incentive for the car companies to produce the more efficient vehicles.”
Ed Lowe can be reached by e-mail at [email protected]
