Did anyone notice the moment when economic stimulus ended and economic madness began?
Whoever designed this program must have had too many brewskis at the 19th hole. It’s like Cash-for-Clunkers on steroids.
Let’s just let the Wall Street Journal report this one while we take a few practice swings:
The federal (tax) 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.
This is obviously the Obama administration’s attempt to reach across the aisle to the rich country club Republicans.
Pardon us, but this story makes us want to go whack a few balls.
Source: Wall Street Journal
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NEWER: Today’s Huckleberry Commentary
“The Obama administration is like a Colorado flying saucer: Full of hot air, spinning aimlessly in circles and completely empty.”
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{ 1 comment… read it below or add one }
My mailbox is almost 1/10th of a mile from my apartment – No really!! I’ve been walking this everyday (well, except Sundays) but now that I know I can get a free government golf cart, I can hardly wait!! Do they have any in ACORN Orange?????