|Forum topic by Dan'um Style||posted 10-02-2009 05:41 AM||1477 views||0 times favorited||21 replies|
10-02-2009 05:41 AM
Got this in an email from a friend in Peoria … If you like this one,,,, send the link to your friends so they can read it for them selves !!!
Here is what you should know and understand about our government’s math.
If you traded in a clunker worth $3500, you get $4500 off for an apparent “savings” of $1000. However, you have to pay taxes on the $4500 come April 15th (something that no auto dealer will tell you). If you are in the 30% tax bracket, you will pay $1350 on that $4500.So, rather than save $1000, you actually pay an extra $350 to the feds.
For example, every dealer here in LA was selling the Ford Focus with all the goodies including A/C, auto transmission, power windows, etc for $12,500 the month before the “cash for clunkers” program started. When “cash for clunkers” came along, they stopped discounting them and instead sold them at the list price of $15,500. So, you paid $3000 more than you would have the month before. (Honda, Toyota , and Kia played
So lets do the final tally here:
We could also add in the additional taxes
Obama and his band of merry men convinced Joe consumer
-- keeping myself entertained ... Humor and fun lubricate the brain