Under the heading of There ain't no free lunch: according to a news blurb the other nite, those who got cash for their clunkers will have to reprot it as income on their 09 tax retrun. The govt giveth and the govt taketh away.
As I understand it, there is no liability for Federal taxes, but each state will have to determine if the rebate is subject to state income taxes.
Hey dude, just like every one else in the middle class I got soaked damn good and heavy on taxes for the last 50 years. Some of it went for a lot more foolish stuff than CFC. About time I got some of it back. Feel guilty?--Hell No!
Sarge, so I guess your complaint on taxes means you didn't think the Bush tax cuts were enough?