[iconoclast]

How will that change? Most models envision a tax credit for low income folk.

The pimps and dealers will get around it, but that won't be how.

They'll just buy "previously owned" luxury cars.

[Adder]

I imagine that tax will be collected on any recordable transaction such as a vehicle purchase where the title has to be changed, used or not. There will be some purely cash transactions which will escape, I am sure.

I'm just not convinced by this tax yet. Seems to me it prsupposes that consumer behavior won't change. I think consumers will think twice when a big chunk of tax is added to large purchases.
That will discourage consumption so while you will have lots to invest with, what will you invest IN?