Clunkers

Wait until the government sends a 1099 to all that got the rebate to make sure they claim it as income. After tax, FICA etc it will be about $2000.
 
Oh! So people want a totally free hand out. And here I am working everyday like a fool.
 
The plan wasn't to benefit the poor. The plan was to get larger, less efficient vehicles off the street and replaced with something more efficient that had a smaller carbon foot print.
Most of the people I know who took advantage of the program were upper middle class, who did just as you said. They traded their kids (or their 3rd) gas guzzler for something smaller and cheaper.

As for the people who didn't qualify, I'm not too let down over that. I'm paying for everyone's home foreclosure. The car might put me over the edge.
 
Pig9r said:
Wait until the government sends a 1099 to all that got the rebate to make sure they claim it as income. After tax, FICA etc it will be about $2000.
Click to expand...


Apparently I read some bad info. The Fed will not be taxing the rebate, but state and local government can.
 
Pigger, I wouldn't be too sure about that, I'd wait to see what the 2009 Tax Instruction "novel" says first when it comes out. I remember when the government gave us those "refund/rebate/stimulus" checks a couple of times in the last 8 years....I believe you had to claim them on your tax return as income.

Dennis

69 (?) dtg Dubai/Kuwait (?)
70 (?) dtg Home
 
I looked at the CARS government site and it said the legislation specifically states it is not taxable by the fed gov.
 
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