I'm still mulling over the "Cash for Clunkers" deal. You know, the government gave away $4500 to people who traded in their cars in the way of credit for purchasing a new car.
So now after all those trade-ins those driving around in their still new car smelling rides are getting a taste of government freebies. Your $4500 we "gave" you toward your new car purchase is taxable income. What? The dealer didn't disclose that information?
Gotta read that fine print, especially when it's printed on government stationery.