Many museums have costume collections. No, that term doesn't have anything at all to do with Halloween costumes or things worn on a play of movie. It isn't only famous people whose clothes are in museums. Places such as the Met in Manhattan and The Chicago Historical Society gladly accept clothes from not so famous people. And there are also museums around the world, whose collections are just on designer or another. Ergo, buying designers clothes and not just the haute couture, is therefor an "investment".
I pulled no "trick"; just talked about a lifestyle you know less than nothing whatsoever about.
If something is an investment, then perforce, according to the fair tax "rules", it is untaxable.
Did you know that some people collect barbed wire? Some collect beer cans. You'd be quite surprised what these things fetch, I bet. Almost ANYTHING can be called an "investment", because someone collects it !
I have far more of an idea than you might realize about this subject. And I don't give a rat's rear end how much you or others might prefer "designer this" or "designer that". Those clothes are purchased for individual wearing and would certainly be taxable as such. What you refer to is the present scam of writing off on income tax such items as a questionable deduction. Perhaps you are not aware of the IRS disallowing such things. I'm certainly not going to argue the deduction from the income tax thing since that will no longer be applicable. Your argument is based on the present income tax system and its quirks - not upon reality devoid of any such tax benefit.
I'm very aware of clothes collected by museums, etc. but that's beside the point. These were already used clothes and that's why they have a value (presumably) to the museum. And tax had been paid long ago. As for "designer collections" - also a contribution influenced by the ]present tax system. Eliminate tax advantages and you'll see these "donations" dry up or even disappear. You don't seem to be aware how tax-benefitted and tax-fdriven some of these things are. Are you trying to argue that such is a good and equitable tax system??? Since you apparently benefit from it, you probably are - despite the drawbacks.
As I've said you can CALL almost anything an "investment", but truly making money off of it is ofter very problematic - even under the income tax laws which are the thing that drives many of these plans. "Donate your not-running car and get a tax write-off", etc. Perhaps you'd argue your old car is an "investment" too? Or as I mentioned earlier how about my Fruit of the Loom underwear since I bought that as an "investment" knowing it would some day be donated to the Met.
In short you're mixing your metaphors and mixing up u=your tax systems with reality as to what is and is not an investment. Calling it such does not make it one.