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Friday, August 28, 2009

Surprise: Cash for Clunkers Rebate Taxable!,89084

But many of those cashing in on the clunkers program are surprised when they get to the treasurer's office windows. That's because the government's rebate of up to $4500 dollars for every clunker is taxable.

"They didn't realize that would be taxable. A lot of people don't realize that. So they're not happy and kind of surprised when they find that out," Nelson said.

So the government taxes the people's money, gives it back to some of the people, then taxes it again. What is wrong with this picture? Why not give the dealers $4000 and $3000 and say it's tax free?

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