CARS= taxable income?

radonc73 wrote:

Cash for... Government! The Obama administration has done a lot of bragging about the success of the "cash for clunkers" program — the government program that...

Cash for... Government!

The Obama administration has done a lot of bragging about the success of the "cash for clunkers" program — the government program that allowed Americans to trade in their so-called gas guzzling cars for a $4,500 cash rebate.

It sounds like a pretty good deal, right?

Well, what team Obama forgot to mention was that those $4,500 dolled out by Uncle Sam will also be taxed by Uncle Sam as regular income!

So just as quickly as the government gives you money, it will be there taking it away. Isn't that funny how it works?

South Dakota's county treasurer said, "They didn't realize that would be taxable. A lot of people don't realize that. So they're not happy and kind of surprised when they found that out."

I think that's generally how people react when they learn about taxes under President Obama.

I know it came from Fox but I haven't scene anything from other "reliable" sources.

motogeezer wrote:

So basically, what people got was a free $3600.

Still not too bad.

Void Main wrote:

I didn't have a clunker to trade in so I was just one of the poor saps who had to pay the other saps their $3,600...

I didn't have a clunker to trade in so I was just one of the poor saps who had to pay the other saps their $3,600. Not to mention how it put a dent in the used car sales part of our business..

super rat wrote:

Yeah it free money, unfuckingbelievable.


If you want to know why this country is going down the tubes, look no further.