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I think the forfeiture law does have its share of problems against property rights.
The way I look at street racing and forfeiture law is this, forfeiture is only justifiable when there is actual damage. But then again, what we want is to prevent damage from happening in the first place.
Therefore, some sort of penalty that would really *scare* people from conducting such action is needed in order to prevent damage first hand. Otherwise, the Ferrari owner is probably so rich that he has another 458 or something on order.
IMO, just put a clause on the law that cars involved in street racing can be impounded and driver's license suspended up to x years, with the owner responsible for all storage fees. At about 10 bucks a day for storage+depreciation of super cars, this could be more painful to the owner as he/she is not allowed to transfer the car's title until the suspension is up. Basically putting the car in jail.
Now, imagine the Ferrari and M6 have to be stored for 3 years, they will probably lose 40% of the value in 3 years time, not to mention all the parts they need to replace after 3 years storage. All cost is covered by the owner and property right is still protected up to an extend.
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Nothing for now
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