Some good news about the "stimulus" bill for Camaro buyers!

[Rodrunner]

Originally Posted by LDGn63

$378 wouldnt stimulate me to buy a set of rims....

but like said... it IS better than a sharp stick in the eye.

Or, the way it's getting watered down, it may end up more like irpq11 put it - a free cargo net. Ha!

[Mr_Draco]

Originally Posted by GothamCamaro

It's brutal, hence I stay in the burbs, many of my co-workers live in Chicago and I don't know how they do it.

Curious, I pay Wisconsin sales tax when I go there to buy right? I live in Dupage which is no better than Cook County and wouldn't want to pay the taxes here. Of course if i have to, I have to.

Back on topic, I'll take the $200+ bucks, it's better than nothing.

You have a choice, you can either pay the sales tax where you buy it or where you live. If you pay the sales tax where you buy it, you have to have documentation that you paid the sales tax there before the DMV office can issue you your tag and title.

[GothamCamaro]

Originally Posted by Mr_Draco

You have a choice, you can either pay the sales tax where you buy it or where you live. If you pay the sales tax where you buy it, you have to have documentation that you paid the sales tax there before the DMV office can issue you your tag and title.

I know my dealer told me this but I couldn't find where I put that info.
Thanks Draco. I gotta imagine taxes are better North than here.

[rmyers]

If they wanted to really help us out they would suspend income tax and payroll tax deductions from your paycheck. That would put money in the pockets of employees and employers.

[carfansince73]

Originally Posted by rmyers

If they wanted to really help us out they would suspend income tax and payroll tax deductions from your paycheck. That would put money in the pockets of employees and employers.

Yeah, and they calculated that we will get an extra $13/week for a single person when they reduce one of the taxes, we pay, income, Medicare, or SS I don't know which. That will REALLY get the economy going! NOT!!!


As rolnslo said, that deduction is already there for some, but the only catch is you have to itemize to take advantage. So for some it may sound like they are getting a tax deduction, but they won't be able to take advantage. When they calculate their taxes, their standard deduction will be larger even with the sales tax added to their list of itemized deductions.

This spendulous bill sucks bigtime. No one in the overseas markets thinks it's any good either. Look at their stock markets after the annoucements in the past couple days.

[rmyers]

Sorry I meant to say they should put a temporary freeze on all income tax withdrawals and payroll tax(FICA - Social Security. This deduciton on your check is matched by your employer) withdrawals. That would equate to 100's of dollars on each check for the average median income. What they have done is to reduce the taxes and very slightly at that. But hey when you promise to give tax cuts to 95% of Americans....there you go...

[carfansince73]

Originally Posted by rmyers

Sorry I meant to say they should put a temporary freeze on all income tax withdrawals and payroll tax(FICA - Social Security. This deduciton on your check is matched by your employer) withdrawals. That would equate to 100's of dollars on each check for the average median income. What they have done is to reduce the taxes and very slightly at that. But hey when you promise to give tax cuts to 95% of Americans....there you go...

And some of those 95% didn't pay any taxes to begin with. So the question has been asked, how do you give someone a tax cut who doesn't pay taxes.


Nice garagemate BTW.

[beowulf80]

how do you give someone a tax cut who doesn't pay taxes

By cutting them a check. Current estimates say 82.1 BILLION will be paid out.

http://www.washingtonpost.com/wp-dyn...020100154.html

[EllwynX]

Originally Posted by LDGn63

$378 wouldnt stimulate me to buy a set of rims....

but like said... it IS better than a sharp stick in the eye.

Agreed, I'll take what I can get. Tax is likely to be around $2600 for me. (7% sales tax in NJ but at least we're not like many states that tax you on necessities like food and clothing too...)

[jtaack]

That's cool! I hope it doesn't get pulled out of the stimulus package....

[carfansince73]

[QUOTE=beowulf80;288096]By cutting them a check. Current estimates say 82.1 BILLION will be paid out.


I guess you didn't understand the joke. How can you have your income taxes reduced when you don't pay any? It's not a tax cut, but more like a welfare check. Now that's the way to give Americans incentive to go out and get a good job.

[stovt001]

Man will this stimulus accomplish nothing and put us in even deeper debt. What a joke. This will make a dent for those of us who living in the Communist Republic of California, as overall we pay more taxes than just about anyone, but otherwise this won't encourage anyone on the fence. It will just send a check to people who were buying anyway.

[fastball]

Ours is 7.75% and a quarter of that is a county tax going toward a medical mart they have only just started to finalize plans for (even though we've been paying it for 2 years)

[cosmin haraga]

Originally Posted by beowulf80

Looks like if you buy a Camaro (or any new car) you'll get a nice deduction next year.

"The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles"

http://news.yahoo.com/s/ap/congress_stimulus
http://latimesblogs.latimes.com/upto...xes/index.html

I fully intend on applying the tax refund I'm getting this year to boost my down payment. Somehow I doubt the Pres and democrats in Washington intended this to go to a Camaro purchase, but that doesn't bother me one bit.

And for those of you who need a picture:


That'll teach you...

good for you America
In the UE they triple the tax on used cars to achieve the same goal
go figure