Cash for clubbers

Discussion in 'General Conversation' started by beespringer, Oct 29, 2009.

  1. beespringer

    beespringer New Member

    Messages:
    2,206
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    sunfish, k
    Well our Fed Govt is showing once again how they are "wisely" spending the stimulis money that we the taxpayer has to pay back..check this out..Its from the wall street journal-

    We thought cash for clunkers was the ultimate waste of taxpayer money, but as usual we were too optimistic. Thanks to the federal tax credit to buy high-mileage cars that was part of President Obama's stimulus plan, Uncle Sam is now paying Americans to buy that great necessity of modern life, the golf cart.
    The federal credit provides from $4,200 to $5,500 for the purchase of an electric vehicle, and when it is combined with similar incentive plans in many states the tax credits can pay for nearly the entire cost of a golf cart. Even in states that don't have their own tax rebate plans, the federal credit is generous enough to pay for half or even two-thirds of the average sticker price of a cart, which is typically in the range of $8,000 to $10,000. "The purchase of some models could be absolutely free," Roger Gaddis of Ada Electric Cars in Oklahoma said earlier this year. "Is that about the coolest thing you've ever heard?"
    The golf-cart boom has followed an IRS ruling that golf carts qualify for the electric-car credit as long as they are also road worthy. These qualifying golf carts are essentially the same as normal golf carts save for adding some safety features, such as side and rearview mirrors and three-point seat belts. They typically can go 15 to 25 miles per hour.
    In South Carolina, sales of these carts have been soaring as dealerships alert customers to Uncle Sam's giveaway. "The Golf Cart Man" in the Villages of Lady Lake, Florida is running a banner online ad that declares: "GET A FREE GOLF CART. Or make $2,000 doing absolutely nothing!"
    Golf Cart Man is referring to his offer in which you can buy the cart for $8,000, get a $5,300 tax credit off your 2009 income tax, lease it back for $100 a month for 27 months, at which point Golf Cart Man will buy back the cart for $2,000. "This means you own a free Golf Cart or made $2,000 cash doing absolutely nothing!!!" You can't blame a guy for exploiting loopholes that Congress offers.
    The IRS has also ruled that there's no limit to how many electric cars an individual can buy, so some enterprising profiteers are stocking up on multiple carts while the federal credit lasts, in order to resell them at a profit later. We should note that some states, such as Oklahoma, have caught on to the giveaway and are debating whether to cancel or limit their state credits. But in Congress they're still on the driving range.
    This golf-cart fiasco perfectly illustrates tax policy in the age of Obama, when politicians dole out credits and loopholes for everything from plug-in cars to fuel efficient appliances, home insulation and vitamins. Democrats then insist that to pay for these absurdities they have no choice but to raise tax rates on other things—like work and investment—that aren't politically in vogue. If this keeps up, it'll soon make more sense to retire and play golf than work for living
     
  2. Netmanjack

    Netmanjack New Member

    Messages:
    3,734
    State:
    Ohio
    Just ask your self, "why" did the wall street journal twist the facts in this press release. :roll_eyes:

    Here's the press release from the IRS.

    [FONT=Arial,Arial][FONT=Arial,Arial]IR-2009-45, April 24, 2009 [/FONT][/FONT][FONT=Arial,Arial]
    [FONT=Arial,Arial]WASHINGTON - Plug-in electric vehicles using certain types of batteries may qualify for a new tax credit if purchased this year, the Internal Revenue Service said today. [/FONT]
    [FONT=Arial,Arial]The Emergency Economic Stabilization Act of 2008 (EESA) and the American Recovery and Reinvestment Act of 2009 (ARRA) created two new tax credits for various types of electric vehicles, which may include what are commonly referred to as neighborhood electric vehicles. ARRA creates a tax credit for low-speed or two- or three-wheel electric vehicles, such as motor scooters, purchased after Feb. 17, 2009, and before Jan. 1, 2012. The amount of the credit is 10 percent of the cost of the vehicle, up to a maximum credit of $2,500. To qualify, a vehicle must be either a low-speed vehicle that is propelled to a significant extent by a rechargeable battery with a capacity of at least 4 kilowatt hours or be a two- or three-wheeled vehicle that is propelled to a significant extent by a rechargeable battery with a capacity of at least 2.5 kilowatt hours. [/FONT]
    [FONT=Arial,Arial]EESA created a tax credit for vehicles that have at least four wheels and draw propulsion using a rechargeable traction battery with at least four kilowatt hours of capacity. For 2009, the minimum credit is $2,500 and the credit tops out at $7,500 to $15,000, depending on the weight of the vehicle and the capacity of the battery. [/FONT]
    [FONT=Arial,Arial]During 2009, low-speed, four-wheeled vehicles manufactured primarily for use on public streets, roads and highways (neighborhood electric vehicles) may qualify both for the EESA credit and, if purchased after February 17, 2009, for the ARRA credit for low-speed electric vehicles. A taxpayer may not claim both credits for the same vehicle. Vehicles manufactured primarily for off-road use, such as for use on a golf course, do not qualify for either credit. [/FONT]
    [FONT=Arial,Arial]The Internal Revenue Service is working on guidance regarding certification procedures for both of these credits. [/FONT][/FONT]​
     

  3. beespringer

    beespringer New Member

    Messages:
    2,206
    State:
    sunfish, k
    No twisting the facts Jack all yu have to do is tell them you use ut primarilly for driving on the road around your neighborhood to go"green" and save gas... Heres another link to a website that will set you up with one.
    http://www.villagesgolfcartman.com/id30.html
     
  4. Netmanjack

    Netmanjack New Member

    Messages:
    3,734
    State:
    Ohio
    It's not what you primarily use it for, but what it is, manufactured primarily for, that makes the difference. And in this since primary means originally. These entrepreneurs are just drumming up business. If they can entice you down with a golf cart scam, then they may just be able to sell you a valid electric vehicle that you wouldn't be normally interested in. As far as seniors and paraplegics, I see no problem with giving them a break, as well as green people driving electric vehicles for transportation. :wink:
     
  5. beespringer

    beespringer New Member

    Messages:
    2,206
    State:
    sunfish, k
    Well whats happened is the Feds left a big loophole in the stimulis bill and these people are taking advantage of it.They make these carts street legal and license them and walla you have a certifiable electric street legal vehiclethat qualfies for the program.I have no problem with people driving electric cars either what I do have a problem with is my kids having to pay for it thru taxation.On the other hand I say if someones in the market for a electric car/golf cart than you would be crazy not to take advantage of it.