how many merkurs cashed in C4C?

[John Brennan]

So what's the point of Cash for Clunkers?

To insidously promote, advance and imbed autonomic dependency among shallow thinking citizens on government largesse--using money taken from other people--as the band-aid to every issue.

YMMV

Hear, hear!

[whitelx]

2006 Corolla? Beat to hell, dead head hasket. Bald tires, trans is not shifting right. 200,000 miles. We've all seen cars like this.

yes, but a corolla didn't qualify for the program, it gets too good of fuel economy.

Ever worked at a dealership? I have worked for several. I'm not surprised at anything. There is always "a way to do something" in the car business.

and if they did, they won't be getting any money and will have to eat the $3500-4500 they gave for it.

My dad is inventory manager for a dealership in texas, they are very specific about what cars are accepted. If it doesn't meet ALL of the criteria, they get no money.

[John Brennan]

yes, but a corolla didn't qualify for the program, it gets too good of fuel economy.

Ever worked at a dealership? I have worked for several. I'm not surprised at anything. There is always "a way to do something" in the car business.

and if they did, they won't be getting any money and will have to eat the $3500-4500 they gave for it.

My dad is inventory manager for a dealership in texas, they are very specific about what cars are accepted. If it doesn't meet ALL of the criteria, they get no money.

Pac, you're absolutely right. When I won my Merkur at the Del Mar IMSA Grand Prix, "the deal" was that I had to take the car-- no 'instead' money would be offered. Well, Miramar Lincoln-Mercury-Merkur wrote $13,000 on a business card and asked me if I was interested (I said no!). I later used this little quote, along with ads in the local paper offering $4,000 rebates, and several magazine articles, to convince the IRS that $20,000 hadn't fallen into my lap-- and won.

And WhiteLX, I hear that most of the dealers haven't gotten their monies from Uncle Sugar anyway! What's your experience? Have you guys been paid?

[pyropete125]

to add to the sourness of this pot- i have heard that the rebate will be taxable income of 2009 IRS forms lol.

pete

[John Brennan]

Of course-- those thugs at the IRS always tax it in both directions. Do you have any idea how much multiple taxation the typical citizen is subject to (word chosen very carefully)-- taxes on taxes on taxes? It's obscene.

[xr4man]

since taxes have been brought up. what always grinded my teeth was when i was in the navy and realized i was paying taxes out of tax money. or in other words, my paycheck came from tax payers and i paid taxes out of that. it just seemed underhanded.

[BeefFajitas]

Of course-- those thugs at the IRS always tax it in both directions. Do you have any idea how much multiple taxation the typical citizen is subject to (word chosen very carefully)-- taxes on taxes on taxes? It's obscene.

And fees for using public services? In MA (which I will be leaving ASAP), there's income tax, sales tax (which they just raised), gas tax, property tax, excise tax (on vehicles).... it goes on and on. They tax you in every direction, so it's hard, almost impossible, to fully calculate just how much your forking over.

To keep it car-related, they charge sales tax every time you sell a car. So a car that's changed hands five times, has been taxed five times.

[Ed Lijewski]

to add to the sourness of this pot- i have heard that the rebate will be taxable income of 2009 IRS forms lol.

pete

It should be taxed. As a rebate, it's a component of income.

If it were a tax credit, it wouldn't be taxed--but then people would have to wait until filing a tax return to receive the benefit.

YMMV

[Freejack]

Surprised someone hasn't pointed out the first line in the PDF:

As submitted, not necessarily reviewed or approved

I am very certain there are some ringers on there that were just dropped in to see what would happen, I highly doubt those particular cars (like the Aston or the Grand National) have yet to be disable (if they were even legitimate C4C trade ins).

Jake

[John Brennan]

It should be taxed. As a rebate, it's a component of income.
YMMV

The US Tax Code defines income as a profit made on an investment, or one made on the labor of others. Acccording to the US Tax Code, wages are not income, either.

[pyropete125]

yeah i always get a kick with my state tax refund counting as income on my next years taxes- it just makes no sense!!!

[Freejack]

It should be taxed. As a rebate, it's a component of income.
YMMV

The US Tax Code defines income as a profit made on an investment, or one made on the labor of others. Acccording to the US Tax Code, wages are not income, either.

John, I would expected less mis-information than that, yes wages are considered income according the US tax code:

http://uscode.law.cornell.edu/uscode/ht ... -000-.html

From US Code Chapter 26:

(a) General definition
Except as otherwise provided in this subtitle, gross income means all income from whatever source derived, including (but not limited to) the following items:
(1) Compensation for services, including fees, commissions, fringe benefits, and similar items;

Jake

[John Brennan]

This page will explain the seeming contradiction:

http://www.givemeliberty.org/RTPLawsuit ... May-10.htm

An excerpt:

This, it is argued by anonymous, is the reason that not a single federal income tax act since 1916 has ever mentioned the imposition of an un-apportioned direct “incomeâ€Â

[Stealth_xr]

i tell you i'd like to get my hands on some of those cars. there was a few of those old 20valve turbo 5 bangers. those are pretty sweet motors. I can't blame them for taking the rebate on those. For some reason the a**holes that have them are always trying to the sell them for over $2K.. while they are cool they aren't popular.they never sell. even less popular than a merk and parts always cost way to much.

[Stealth_xr]

its a damn shame if they crush and destroy all that stuff....stupid government.