Tax Breaks for a New Car...Joy!

[3113]

Can I beat my head against a wall now?

The Senate voted Tuesday to give a tax break to new car buyers, setting aside bipartisan concerns over the size of an economic stimulus bill with a price tag edging above $900 billion. The 71-26 vote came as President Barack Obama said he lies awake nights worrying about the economy and signaled he'll try to knock out "buy American" provisions in the legislation to avoid a possible trade war.

Sen. Barbara Mikulski led the successful effort to allow many car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans. She said the plan would aid the beleaguered automobile industry as well as create jobs at a time the economy is losing them at a rapid rate. "I believe we can help by getting the consumer into the showroom," she said.

http://bestsmileys.com/frustrated/5.gif Yeah, that's exactly what people yearn to do when they've had a home foreclosure, are deep in debt, can't trust their bank to stay in business, and have been laid off from their jobs. Buy a new car!

Why am I getting shades of the Joad family traveling around in and living out of a nice, new hybrid?

More here.

 

[voluptuary_manque]

Can I beat my head against a wall now?


http://bestsmileys.com/frustrated/5.gif Yeah, that's exactly what people yearn to do when they've had a home foreclosure, are deep in debt, can't trust their bank to stay in business, and have been laid off from their jobs. Buy a new car!

Why am I getting shades of the Jode family traveling around in and living out of a nice, new hybrid?

More here.

Well, Mama does need new wheels and we're in good shape, financially.

 

[Boxlicker101]

Can I beat my head against a wall now?

Quote:
The Senate voted Tuesday to give a tax break to new car buyers, setting aside bipartisan concerns over the size of an economic stimulus bill with a price tag edging above $900 billion. The 71-26 vote came as President Barack Obama said he lies awake nights worrying about the economy and signaled he'll try to knock out "buy American" provisions in the legislation to avoid a possible trade war.

Sen. Barbara Mikulski led the successful effort to allow many car buyers to claim an income tax deduction for sales taxes paid on new autos and interest payments on car loans. She said the plan would aid the beleaguered automobile industry as well as create jobs at a time the economy is losing them at a rapid rate. "I believe we can help by getting the consumer into the showroom," she said.


http://bestsmileys.com/frustrated/5.gif Yeah, that's exactly what people yearn to do when they've had a home foreclosure, are deep in debt, can't trust their bank to stay in business, and have been laid off from their jobs. Buy a new car!

Why am I getting shades of the Jode family traveling around in and living out of a nice, new hybrid?

More here.

Actually, that's partially restoring a deduction that was available a few years ago. All interest payments, including credit cards, used to be deductible and sales taxes paid on automobiles were included sepirately from other sales taxes. Interest on new car purchases will now be treated the same as interest on the purchase of a residence.

 

[TE999]

Can I beat my head against a wall now?


http://bestsmileys.com/frustrated/5.gif Yeah, that's exactly what people yearn to do when they've had a home foreclosure, are deep in debt, can't trust their bank to stay in business, and have been laid off from their jobs. Buy a new car!

Why am I getting shades of the Jode family traveling around in and living out of a nice, new hybrid?

More here.

Wait a minute...wasn't that a campaign promise..."A chicken in every pot and a car in every garage."

Come to think of it...that was FDR in 1932.

Never mind.

 

[Weird Harold]

Interest on new car purchases will now be treated the same as interest on the purchase of a residence.

Is this possibly an acknowledgement that "car" and "residence" are becoming synonymous?

Issupect this provision is more a stimulous for the auto industry than for consumers.

 

[Weird Harold]

Wait a minute...wasn't that a campaign promise..."A chicken in every pot and a car in every garage."

Come to think of it...that was FDR in 1932.

Never mind.

inaccurate quote is from the 1928 campaign:

During the 1928 presidential campaign, did Herbert Hoover really promise "a chicken in every pot and a car in every garage?"

The Hoover campaign used a variety of slogans in 1928 including "Vote for Prosperity," "Lest We Forget" (referring to Hoover's World War I relief work), and "Who but Hoover?"

Other slogans were introduced by Hoover supporters, often without direct input from Mr. Hoover. The link between Hoover and the phrase "a chicken in every pot" can be traced to a paid advertisement which apparently originated with the Republican National Committee, who inserted it into a number of newspapers during the 1928 campaign. The ad described in detail how the Republican administrations of Harding and Coolidge had "reduced hours and increased earning capacity, silenced discontent, put the proverbial 'chicken in every pot.' And a car in every backyard, to boot." The ad concluded that a vote for Hoover would be a vote for continued prosperity.

Hoover did make a variety of optimistic statements during the campaign, such as, "the slogan of progress is changing from the full dinner pail to the full garage," and "given a chance to go forward with the policies of the last eight years, and we shall soon with the help of God be in sight of the day when poverty will be banished from this Nation," but Hoover never promised "a chicken in every pot."

 

[3113]

Wait a minute...wasn't that a campaign promise..."A chicken in every pot and a car in every garage."

Come to think of it...that was FDR

Works fine if you haven't got a chicken or a car...and it's 1928 and the stock market is still going strong (didn't crash till 1929, remember?).

Doesn't work if you're still paying off that debt on your gas guzzling truck as well as the credit card.

Of course, if the Senate wants to vote tax breaks for anyone who buys a stewing chicken from their local grocery I'd certainly be behind that.

 

[voluptuary_manque]

Works fine if you haven't got a chicken or a car...and it's 1928 and the stock market is still going strong (didn't crash till 1929, remember?).

Doesn't work if you're still paying off that debt on your gas guzzling truck as well as the credit card.

Of course, if the Senate wants to vote tax breaks for anyone who buys a stewing chicken from their local grocery I'd certainly be behind that.

You local grocery actually has genuine 2-year-old stewing chickens? Wow! I have to order mine frozen from an online source.

 

[TE999]

inaccurate quote is from the 1928 campaign:

Ooops...I knew I shouldn't have cut History class.

Works fine if you haven't got a chicken or a car...and it's 1928 and the stock market is still going strong (didn't crash till 1929, remember?).

Doesn't work if you're still paying off that debt on your gas guzzling truck as well as the credit card.

Of course, if the Senate wants to vote tax breaks for anyone who buys a stewing chicken from their local grocery I'd certainly be behind that.

I thot it was 1932...but the Weird One set me straight on that.

Stewing chickens are on sale at Kroger's tho.

 

[Stella_Omega]

I figure a Humvee could be turned into a kind of cool shelter thing. Pull out the engine, sell it for scrap. Use the engine compartment for a sleeping compartment, leave one back benchseat, add a card table...

Park it in your buddy's back yard, if his wife will let you, and run an orange extension cord out of their window.

 

[JackLuis]

Just don't buy your chickens with a credit card and spend your cash on a Car!

 

[3113]

I figure a Humvee could be turned into a kind of cool shelter thing. Pull out the engine, sell it for scrap. Use the engine compartment for a sleeping compartment, leave one back benchseat, add a card table...

Park it in your buddy's back yard, if his wife will let you, and run an orange extension cord out of their window.

I'm tellin' ya, that Grapes of Wrath metaphor of a turtle for the Joad truck make so much more sense if it's a Humvee. Armored shell and all.

 

[voluptuary_manque]

When I was in Reserves, they made me get licensed for a Humvee. Those things are the most ungainly vehicles! Hell, a 2 2/1 ton truck is easier to manuevor! However, Stella's idea has merit. When we were first married we lived in a apartment that I swear had fewer square feet than a full-size 'vee.

 

[neonlyte]

We are in the process of buying a new car. Yes... it is odd since I'm no longer allowed to drive, but our 25yr old Volvo had seen the last of its days. We ordered the new car on 30th December. Three weeks later, we still didn't know what colour was available - is there a crisis in the auto industry? Does it extend to not being able to recognise car colours? The SO takes delivery tomorrow. Not bad, five weeks to get hold of wheels that are supposedly stockpiled and hungry for buyers By way of compensation, we are getting this years model rather than last years and the SO negotiated a 20% discount. At 0% finance, we estimate the fuel saving over running the Volvo will cover the monthly repayments.

 

[freshface]

But Humvees leak like a sieve. Maybe alright for you southern Californians with your warm sunny days, but a truly miserable vehicle in bad weather.

 

[Boxlicker101]

I'm tellin' ya, that Grapes of Wrath metaphor of a turtle for the Jode truck make so much more sense if it's a Humvee. Armored shell and all.

I just thought I wold mention that the name of the family in GOW was spelled Joad.

 

[3113]

I just thought I wold mention that the name of the family in GOW was spelled Joad.

I'd better fix that, huh? There goes my license to teach that novel....

 

[3113]

We are in the process of buying a new car. Yes... it is odd since I'm no longer allowed to drive, but our 25yr old Volvo had seen the last of its days. We ordered the new car on 30th December. Three weeks later, we still didn't know what colour was available - is there a crisis in the auto industry? Does it extend to not being able to recognise car colours? The SO takes delivery tomorrow. Not bad, five weeks to get hold of wheels that are supposedly stockpiled and hungry for buyers By way of compensation, we are getting this years model rather than last years and the SO negotiated a 20% discount. At 0% finance, we estimate the fuel saving over running the Volvo will cover the monthly repayments.

Hey, one company is advertising that if you go into a financial tailspin you can return the car. Or something like that. This is certainly the best time in a long time to wheel and deal with the car companies.