Cash for Golf Carts?
In Economy, Government Rules & Regulations | no comments yet | permalink
Why shouldn’t Congress rush through legislation? Because this is how you get numerous loop holes and wasteful government spending. I have to go buy dark circle cream for my eyes due to the amount of sleep I lose over this type of stupid spending.
It seems that there is no limit of the number of electric cars you can buy and get a tax credit of $5,500 from the Federal Government. Unfortunately, this tax credit applies to golf carts as well. See, they are electric and as long as they are equipped with three point harness belts and rear view mirrors, they qualify for the program. According to the Wall Street Journal, there are some golf cart companies who are offering to have you buy the cart, lease it back to the company for $100 a month for 27 months, then have the company buy it from you for $2,000. You will have profited $2,000 from the transaction.
Some entrepreneurs are buying several carts, taking the credit and them hoping to sell at a later date and make a profit on the deal.
I am so glad that our tax dollars are put to good use!
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