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Thread: Some Surprised By 'Clunker' Tax

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    Some Surprised By 'Clunker' Tax

    Huge succes! Massive, even! Beyond our wildest dreams! What's going to happen when thy don't have the cash money to pay the taxes?

    "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 find that out," Nelson said.

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    Quote Originally Posted by Top Cat View Post
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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by apdst View Post
    Huge succes! Massive, even! Beyond our wildest dreams! What's going to happen when thy don't have the cash money to pay the taxes?
    Durn government actually expecting people to realize they had to pay taxes....

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    Re: Some Surprised By 'Clunker' Tax

    Yes, its all the Obama Administration's fault that most states levy sales taxes on new car purchases.
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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by apdst View Post
    Huge succes! Massive, even! Beyond our wildest dreams! What's going to happen when thy don't have the cash money to pay the taxes?
    What exactly do you want the federal government to do about it?
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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by SouthernDemocrat View Post
    Yes, its all the Obama Administration's fault that most states levy sales taxes on new car purchases.
    Next up, people will complain they didn't know getting full coverage on a brand new vehicle would increase their premium rates.

    But we will blame that on greedy corporations to balance out the blame Obama gets for the tax. Yin-yang bitches....
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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by SouthernDemocrat View Post
    Yes, its all the Obama Administration's fault that most states levy sales taxes on new car purchases.
    Quote Originally Posted by Kandahar View Post
    What exactly do you want the federal government to do about it?
    That's not what this article is about.

    But many of those cashing in on the clunkers program are surprised when they get to the treasurer's office windows. That's because the government's rebate of up to $4500 dollars for every clunker is taxable.
    Quote Originally Posted by Redress View Post
    Durn government actually expecting people to realize they had to pay taxes....
    In all seriousness, this surprised me. I guess it makes sense when you think about it, but off the top of my head, I certainly wouldn't have expected to have to pay taxes on the $4500 as income.

    edit: Or maybe I'm still misreading that, and they're simply saying that you had to pay sales tax on the total amount before you subtract the $4500?

    edit2: Looks like that's what they mean.

    Cash for clunkers, but no tax break in Md. -- baltimoresun.com
    Last edited by RightinNYC; 08-26-09 at 10:28 PM.
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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by Redress View Post
    Durn government actually expecting people to realize they had to pay taxes....
    I appreciate the sarcasm, but this is a point that no one ever brought up, when C4C was cranked up.



    Quote Originally Posted by SouthernDemocrat View Post
    Yes, its all the Obama Administration's fault that most states levy sales taxes on new car purchases.

    If you'll read the article more carefully, you'll see that it's not just sales taxes that are being paid on the rebate, but income taxes, as well.



    Quote Originally Posted by Kandahar View Post
    What exactly do you want the federal government to do about it?

    Oh, nothing! I want them t leave it exactly like it is.

    This isn't sales tax that's factored into the loan amount, or subtracted from the down payment. This is cash money that the buyers are going to have to pull out of their pockets, when they go to the DMV to register their cars.

    I reckon all that free money wasn't free, after all.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by RightinNYC View Post
    In all seriousness, this surprised me. I guess it makes sense when you think about it, but off the top of my head, I certainly wouldn't have expected to have to pay taxes on the $4500 as income.

    edit: Or maybe I'm still misreading that, and they're simply saying that you had to pay sales tax on the total amount before you subtract the $4500?

    edit2: Looks like that's what they mean.

    Cash for clunkers, but no tax break in Md. -- baltimoresun.com
    It's a rebate, not a reduction in the price of the vehicle. Follows the same rules are rebates always have.

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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by apdst View Post
    I appreciate the sarcasm, but this is a point that no one ever brought up, when C4C was cranked up.
    It should not have to be brought up. It's how car rebates have worked in the past.

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    Re: Some Surprised By 'Clunker' Tax

    Quote Originally Posted by Redress View Post
    It should not have to be brought up. It's how car rebates have worked in the past.
    It's really the fault of the car companies that are being misleading in their advertising. There are plenty of ads out there that say things like "Accord, used to be $17,995, now with government rebate, $12,495."

    But you're right, if that's what they're actually talking about in this article, I fail to see how the government could have anticipated or fixed this.
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