As if the price of gas wasn't enough, did you know that in 1950 congress passed a law that mandated a 10% excise tax on all fishing rods and reels? In 1984 they sneakily extended the tax to all types of fishing tackle. This means that on that shiny new $400 rod with the $300 reel, $70 in taxes were being passed on to you. Well fret no more my oppressed angling brethren. POTUS has signed into law the Federal Highway bill which includes a measure to cap the Federal Excise Tax at $10.00 on fishing equipment. WTG Free Trade! (news release via the AFFTA website)
Friday, September 02, 2005
Fishermen Less Taxed ..Tea Party Canceled
As if the price of gas wasn't enough, did you know that in 1950 congress passed a law that mandated a 10% excise tax on all fishing rods and reels? In 1984 they sneakily extended the tax to all types of fishing tackle. This means that on that shiny new $400 rod with the $300 reel, $70 in taxes were being passed on to you. Well fret no more my oppressed angling brethren. POTUS has signed into law the Federal Highway bill which includes a measure to cap the Federal Excise Tax at $10.00 on fishing equipment. WTG Free Trade! (news release via the AFFTA website)
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