[org.whodat]

"They didn't realize that would be taxable. A lot of people don't realize that.

That is because they don't read freerepublica, I posted it here that it would be considered taxable income. In a country that taxes SSI, nothing else is possible.

[org.whodat]

I also pointed out that I was taxed on the tobacco buy out program.

[Nathan Zachary]

This is what happens when socialist governments recycle your own money back to you over and over again.

You earn it- pay income tax on those earnings.

Government "gives" you $4500 of your tax money back, which you have to claim as income which you pay taxes on yet again.

PLUS, You pay sales/state taxes on it.

Plus you basically give them your clunker for basically nothing, which I imagine either the dealer or government gets whatever salvage value it's worth.

If the dealer, the salvage value is deducted from their 4500 reimbursement for fronting you the clunker cash.