I noticed prices of some fishing rods started going up (just like everything else) earlier this year. Thanks to Bass Angler Mag for uncovering the IRS regs, now we know why. New excise taxes were placed on manufacturers sales that were designed to pay for ObamaCare starting January 1. Fishing rods are taxed at 10% of the wholesale price not to exceed $10/rod. Tackle boxes and bags are taxed at 3% and outboard motors are also taxed at 3%. And for any of you bowhunters out there, the tax also applies on bows, quivers, broadheads, points and arrow shafts. We all know taxes on manufacturers get passed on to consumers in the end. Cabelas is even pointing out the tax on their sales receipts.
If you don't believe me, read the tax code for yourself here: http://www.irs.gov/p...rs-pdf/p510.pdf go to page 31.
Now, the more fishing gear we buy the more we help pay for Obamacare. What a trap! I know talking politics isn't the point of this forum, but I thought this was relative since it's a tax on our favorite hobby and sport.