A hard lesson

Gonz

molṑn labé
Staff member
I find myself on this night with a conundrum.

My right wing told ya so ya stupid bastiches side is overjoyed at the chance to show what damage a lovely & generous offer of liberalism may perchance lay upon the unsuspecting receiver of such goodies.

My selfless humananitarian all are equal before the eyes of whichever greater deity, if any, you should choose to worship....wow that's a load of crap.

Anyway, remmemer a couple of weeks ago, the Oprah Winfrey Show was starting it's 2389th year on TV & in celebration Oprah the Magnificent decided to do a show where she helped some people out. Not having watched her marvelous program I am only going by news reports which may have been seen & edited by CBS & may be incorrect so please bear with me. Anywho, her entire audience was "invited", not just walk-ons. During the few segments she did they helped several needy families by giving large sums of cash, applainces or other goodies to assist the poor & wretched.

At the end of the show, she told her studio audience to look under their seats. Placed there, before taping began, was a box. Some boxes contained the same thing the last segmented participant recived....namely, the keys to a 2005 Pontiac (car-some new model). Brand new. All taxes & first year registration paid. So, the wimins in the audience began to huff & to puff & to get all exasperated & to sweat & to tingle (some, being in such close proximity to Ms Winfrey may have actually orgasmed).

Some 200+ boxes had their lids very unceremoniously ripped off in a most un-ladylike fashion & the entire audience had a Big O. Everybody that day was gifted a new automobile thanks to Oprah the Great & Humble.

Outside they run to stand next to their new car, in the parking lot & give free publicity to O & to fawn over themselves & their untold & new found luck. What a day, oh, my, what a glorious day.

I heard of this the day it happened. Instinctually I was highly suspect. Free? Ain't nothing free. I was wrong...sort of.

The cars in the parking lot were not to be taken home. They were Pontiac publicity cars. Instead, as was later learned, the automobiles DONATED by Pontaic at the suggestion of Ms Winfreys staff and considerable free/reduced rate airtime for the next year on her show, would come in a form of a prommisory note of sorts.

Each member of the audience could, in the next 90 days, go to her local Pontiac dealer & receive up to & including $28,500. worth of new Pontiac. Any model, any goodies as long as it didn't surpass the set amount. Sweet, I'd be happy. One woman was deemed ineligible after she, in a post production interview admitted once being arrested for DWI/DUI. How that matters is beyond me by hey, I'm not making the rules.

Now for the sad part.

It turns out that free car wasn't so free.

That's because while Pontiac agreed to pay for most of the local charges -- things like state sales tax and licensing fees -- the recipients have to report the cars as income once tax time comes.

By adding $28,500 to someone's income, it can push them into a higher tax bracket -- which means they will have to pay about 25 percent or more of the car's value in taxes. And for a nearly $30,000 car, that probably means, for most of the recipients, shelling out $7,125 for the "free car."

And if you live in Illinois, you can expect to tack on another 3 percent or so in state income taxes.

So, in essence, the free automobile, isn't. It's a kick ass deal - seven grand for a brand new car. Where may I ask, would a studio audience made up of poor, lower working (or not) class wimins without two penny's to rub together gonna find $7k?

More importantly, why can't every American have to pay taxes in quarterly or annual installments? Do away with "withholding" & make people realize how much they actually pay. If folks had to write Internal Revenue Service atop a few checks each year I'd bet there'd be more clamor for tax relief.

The tax shock is not much different from the bill that comes to many game show winners. The Internal Revenue Service requires game shows -- and every other large gift giver and casino -- to report winners to the federal government. It is then the responsibility of the winner to fess up on their tax forms.

Chi Sun Times
NBC5
 
Yeah, I'm in that boat. If I ever won something like (yeah right) that I'd have to sell it...I see contests for Jags and whatnot...between the taxes and actually having the monthly dough to insure the dang thing it'd be way too out of reach.

the $ from sellin it would be kinda nice though :shrug:
 
Yeah, but the way it sounds that's not even really an option. Although I guess they could float the IRS for a few months to sell the car. But no, nothing in life is truly free.
 
Leslie said:
Yeah, I'm in that boat. If I ever won something like (yeah right) that I'd have to sell it...I see contests for Jags and whatnot...between the taxes and actually having the monthly dough to insure the dang thing it'd be way too out of reach.

the $ from sellin it would be kinda nice though :shrug:


Not in Canada ,any winnings are Tax free,its only the US where you have to pay tax on winnings .
 
Oh, the car was, indeed, free. The gov't OTOH, wants its cut. It always does. Most of these folks are going to have to sell their new car, pony up the taxes, and (hopefully) use the remaining cash to buy a decent used car. It's still a kick-ass deal, but the IRS takes it down a serious peg.

Are we ready for a national sales tax yet?
 
If they can't/don't want to pay the taxes, they have the option of declining the gift and therefore not owing any tax.

Still sucks, though. Either way.
 
A.B.Normal said:
Not in Canada ,any winnings are Tax free,its only the US where you have to pay tax on winnings .

Yeah.. AB I was just thinking... "Poor bastards who win the 8 million lotto jackpot in Britain on Saturday"...

but then I too believe it is only in America where they would be Bastrdly enough to tax you for good fortune!!

Isn't it? :confused:
 
ClaireBear said:
Yeah.. AB I was just thinking... "Poor bastards who win the 8 million lotto jackpot in Britain on Saturday"...

but then I too believe it is only in America where they would be Bastrdly enough to tax you for good fortune!!

Isn't it? :confused:
Yep, that's us. Lottery is especially nice, gets you right up there to the 50% bracket. Of course not that I couldn't live on 4 mil, but then if you buy property they tax that every year too.
 
PuterTutor said:
Yep, that's us. Lottery is especially nice, gets you right up there to the 50% bracket. Of course not that I couldn't live on 4 mil, but then if you buy property they tax that every year too.

What a pack of bastards!!!! :D
 
It's not so bad when you get taxed on lottery winnings. Yes, it sucks majorly, but at least it's a liquid asset that you can cut a chunk out of. A car is a bit more of an all-or-nothing asset; you can't just take out the engine and pay the taxes with that.
 
Inkara1 said:
It's not so bad when you get taxed on lottery winnings. Yes, it sucks majorly, but at least it's a liquid asset that you can cut a chunk out of. A car is a bit more of an all-or-nothing asset; you can't just take out the engine and pay the taxes with that.

Here's a good one...If I would've won a large lottery prize during the month of September, it would've been tax free. Combat-Zone tax exclusion covers me for one-month increments, and if I spend as little as one day in a combat-zone, I get the whole month income-tax free. Too bad I couldn't come up with a winning power-ball number, eh? :D
 
ClaireBear said:
Better education, healthcare, fire, police etc etc etc... free to all who require it!!!!

Paid for by the sweat of those who actually work for it! Doesn't sound like a sweet deal to me.
 
HomeLAN said:
Paid for by the sweat of those who actually work for it! Doesn't sound like a sweet deal to me.

Its a few pence on the pound... believe me... when you're suddenly rushed into hospital *CB touches lots and lots and lots of wood* with God knows what... one less stress is not having to worry about having appropriate insurance for the life saving op you may need!!!!!
 
PuterTutor said:
Yep, that's us. Lottery is especially nice, gets you right up there to the 50% bracket. Of course not that I couldn't live on 4 mil, but then if you buy property they tax that every year too.

Um, perhaps you guys aren't aware, but most lottery jackpots aren't paid as a lump sum, but as an anuity over a period of years. You can usually request a lump sum, but it'll usually be for a little over half the total amount.
 
Yeah, that the way it is. If you win the jackpot you can either get payments over 20 years or take about half the total at once. Either way will usually put you up in the top income bracket though.
 
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