[JBCiejka]

Has anyone mentioned if the people who take the cash for clunkers will have to declare it as income and then pay taxes for it?

[clintonh8r]

Excellent point. I haven’t heard whether or not it’s taxable.

[khnyny]

It hasn't been discussed (to my knowledge) here on FR, but it's looking likely. Also, there could be "double taxation" as the dealers and the buyers may both have to pay taxes on this money. Doesn't seem very legal to me if it shakes out this way, but hey, it's the government and they can make the rules.

Seriously, what people should REALLY be up in arms about is how the government fudged their statistics today and Obama trotted his little self out in front of the cameras (yet one more time) and lied about the economy "improving".