Congress Passes "Uncle Buck" Bill

(Reuterz) Washington D.C. -- Congress has approved the "Cash For Clunkers" Bill with 135 pages of criteria that must be met to qualify for the rebates.

The "CARS" program (named after the recently disappointing Pixar animated feature) is intended as an incentive to owners of 25-year-old sheet metal who have had no reason or ability to spend up to $45,000 for a new car. Organized crime families in the New York/New Jersey area are also expected to benefit.

To qualify, drivers must admit to currently owning a vehicle whose appearance would be improved by an accident or are regularly given "right of way" by others at intersections. Vehicles manufactured between the Russian boycott of the Olympics and the Collapse of The World Economies are eligible.

In California -- the country's largest car market -- the legislature responded positively by raising new vehicle sales taxes and registration fees to the entire rebate amount. The program is expected to end once someone in Congress reads it.

Comments

[websmith]

So,,, now,,, instead of loaning U.S. car companies money, we are just going to give both U.S. and foreign car companies money. That certainly simplifies things.

As far as California goes, they have been watching Congress. The new budget includes, among other tax increases, an additional 10% income tax withholding increase that is supposed to be paid back at the end of the year when you file your tax returns. Whether California will have the money to pay it back is another question. This of course is a sneaky way of increasing taxes. The additional withholding will end up being permanent and turn quietly into a simple tax increase. They are just giving us a year to get used to it and making sure that they don't have to face the music for increasing taxes come election time.