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Just now on CNBC

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Old Jun 15, 2005 | 10:18 AM
  #1  
Don M's Avatar
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Thumbs up Just now on CNBC

Watching "morning call" on CNBC this morning I just heard Bush calling on Congress to extend a 4000 dollar tax incentive to anyone who buys a Diesel powered vehicle Not just the hybrid stuff.

Lets hope that happens!!!

Don~
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Old Jun 15, 2005 | 12:11 PM
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can we get a grandfather clause on that to include those who currently drive a diesel?? $4000 would go a long way towards more mods...
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Old Jun 15, 2005 | 02:49 PM
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From: Kansas City & Maysville, MO
Originally posted by graphitecumnz
can we get a grandfather clause on that to include those who currently drive a diesel?? $4000 would go a long way towards more mods...
We could all just sell each other our trucks, then sell them back. Wonder if that would work?
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Old Jun 15, 2005 | 03:12 PM
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From: N. FLORIDA
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Old Jun 15, 2005 | 03:22 PM
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Video:

http://media.lihq.net/dieselforum/bi.../bio_large.wmv
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Old Jun 15, 2005 | 05:33 PM
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From: Tomball, Texas
Originally posted by graphitecumnz
can we get a grandfather clause on that to include those who currently drive a diesel?? $4000 would go a long way towards more mods...
I was wondering about that too. Wasn't planning to buy a new truck for another 10 years. But that can be changed.


MikeyB
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Old Jun 16, 2005 | 12:55 PM
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We could all just sell 'em to each other, and then buy 'em back. Unless the guy who sells me his has a really nice 1st gen extended cab long bed with a 5 speed. And 4wd.
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Old Jun 16, 2005 | 01:59 PM
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I'm assuming this would be a deduction instead of a credit.

A $4000 credit would wipe out 60% of my federal tax bill and cost the treasury big bucks overall.

If this comes to pass, especially as a credit, there will a waiting list years long to get a TDI or a Benz CDI. I don't think folks will step up from 1/2 ton trucks to 3/4 ton just to get the credit as the cost will exceed the amount of the credit.

I'm suprised Bush would do this. It would lower oil sales for all his friends.

Brian Elfert
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Old Jun 16, 2005 | 02:01 PM
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Originally posted by IA_James
We could all just sell 'em to each other, and then buy 'em back. Unless the guy who sells me his has a really nice 1st gen extended cab long bed with a 5 speed. And 4wd.
You going to pay all the sales tax for all these transactions? Tax folks don't like below market sales and will charge tax based on the fair market value if the sale amount is too low.

Brian Elfert
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Old Jun 16, 2005 | 03:01 PM
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Not here. As long as it was a "cash" transaction, there's no proof otherwise either. No emissions testing or inspections either. Iowa does have "some" advantages.
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Old Jun 16, 2005 | 10:20 PM
  #11  
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Originally posted by IA_James
Not here. As long as it was a "cash" transaction, there's no proof otherwise either. No emissions testing or inspections either. Iowa does have "some" advantages.

Not many. I pretty much hate this state.
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Old Jun 16, 2005 | 10:32 PM
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Originally posted by IA_James
Not here. As long as it was a "cash" transaction, there's no proof otherwise either. No emissions testing or inspections either. Iowa does have "some" advantages.
I'm guessing the feds would want some official paperwork from the DMV to get the credit or deduction. A cash sale slip from Joe Blow probably wouldn't cut it.

If this does ever pass, I'm sure someone will try it. The IRS mostly goes on trust and only requires a lot of the paperwork to be produced if there is an audit.

The whole point of the credit is to get people to buy new diesel vehicles instead of gassers.

Brian Elfert
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