February 5, 2013 3:30 PM by Wade Blogs
STL Today – The cost of a new pair of basketball shoes could jump by 25 cents under a proposal floated this week by an Illinois lawmaker.
State Rep. Will Davis, D-Hazel Crest, wants to create a new tax that would generate an estimated $3 million annually for a youth job preparation program. He said the added cost would likely go unnoticed by most consumers, while helping finance a program for kids during tight budget times.
“Everywhere, funding is challenged,”Davis said. “I see it as a uniquely creative way of helping youth.”
Under the proposal, consumers buying any kind of athletic shoe would pay an extra 25 cents. Proceeds from the new tax would be earmarked for the state’s YouthBuild programs.
YES! Finally a tax that makes sense, and I mean that with 100% sincerity. I can’t stand the people that line up for DAYS outside Footlocker or Finishline to get limited edition sneakers. They are blasting music, littering, and more often than not are found being boisterous. I’m in my 20’s and hate them so I can only imagine what grown ass men like dads and grandpas feel like. So these young moneymakers normally buy two pairs of said sneakers: 1 to sell and 1 to wear. They don’t come cheap and the resale value is often double or triple their price yet they don’t get taxed on their profits. Meanwhile I buy a few stocks, sell them for a profit and I get RAPED on capital gains tax.
The tax revenue, estimated at $3 million annually, will go towards a program to help the youth prepare for jobs. Now that is smart! The tax is actually an investment into your future. When you invest in your future you become economically stable and can afford the tax. It truly is the circle of monetary life.
It’s about time they start taxing things that eventually make dumb stupid money on the black market. Yes it includes all sneakers and I’m cool with that. I don’t mind shelling out an extra $3 for pair of Clunky New Balances, you know why? Because if that $3 would make or break me I WOULDN’T BE SPENDING MONEY ON SNEAKERS. Priorities people!
The angry old man rant is done. Someone send me a story about a hot piece of ass to drool over.