Now, why wouldn't ObamaBOY mention that the "cfc" program would be taxed?

Discussion in 'Politics' started by Wicked Jester, Aug 28, 2009.

  1. Wicked Jester
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    Wicked Jester Libsmackin'chef

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    Seriously, why did that incompetent IDIOT fail to mention that those who participated in the "cash for clunkers" would be taxed under "taxable income'?
    Let's just see if you moronic liberal Obamabots can figure it out.
     
  2. bodecea
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    bodecea Diamond Member

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    ObamaBOY????? :doubt:
     
  3. Truthmatters
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    Obama has no control on what the states tax
     
  4. Care4all
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    Care4all Warrior Princess Supporting Member

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    Because what you are saying is simply not true and a lie being passed around by the right wing politicos....

    We have had a thread on this already btw, a couple of days ago if you want to search for it.

    The Cars for Clunkers DOES NOT TAX it as income....there is no income tax on the clunkers rebate for the State or the Federal government.

    If your state has a sales tax on cars, and you bought a $19,500 dollar car with a $4500 rebate, your total that you have to pay is 15,000....if your state has a sales tax on cars, you would have to pay the sales tax on the full value of the new car, the $19,500k...

    But also in the same stimulus bill as cash for clunkers, for 2009, that the sales tax on any new car you bought in or out of the clunker program, can be used as a deduction on your Income tax, even if you do not file the long form.

    This other thread on this has all of the appropriate links confirming what I said.

    Care
     
    Last edited: Aug 28, 2009
  5. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    truth can you possibly go dig up an article for the OP and myself on that.

    Jester can you post a link about what taxes are being charged and where the taxes are coming from?
     
  6. Truthmatters
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    » Cash for Clunkers Tax Rules | Prime Time Money


    Federal Income Tax
    If you’re talking about federal income taxes, then the answer is no. As a consumer, you won’t owe taxes to the Federal government for the credit you received as a result of the Cash for Clunkers trade-in. The official program website, Cars.gov is very specific about this. See this excerpt from their FAQs:

    “Is the credit subject to being taxed as income to the consumers that participate in the program? NO. The CARS Act expressly provides that the credit is not income for the consumer.”
     
    Last edited: Aug 28, 2009
  7. Truthmatters
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    some states have decided to tax it
     
  8. Truthmatters
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    Why does my posting in a thread change its tag to old?
     
  9. Truthmatters
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    Killed that little lie didnt it
     
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  10. mal
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    mal Diamond Member

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    He's a ManChild... It's True.

    We could call him a "Chimp" like you Lefties did (43)...

    :)

    peace...
     

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