Should Oprah pay the taxes for all or some of the recipient who could not afford it.?
Answer the questions below……
About Oprah’s car give away
by Del McMullen / September 22, 2004 9:12 AM PDT
The cars were not exactly FREE. More like 75% Off.
Even a mouse knows there is no such thing as a free
lunch.
Uh oh. Some things really are too good to be true. One of them may
be the free Pontiac G6 (worth $28, 000.00.) Oprah Winfrey and
General Motors gave to 276 members of “The Oprah Winfrey Show”
audience on September 13. Turns out, the car isn’t totally free
after all.
Thanking her audience for sticking with her through the years,
at one of her final episodes, Oprah stunned the audience of that
day by informing them that they will all be walking away as owners
of a brand new free car.
However, on further investigation, “It’s not really a free car,
it’s more of a 75 percent off car,” winner Susan Nelson told
Sun-Times reporter Lucio Guerrero. “Of course, that’s still not
such a bad deal.” Winner William Toebe, a farmer in Green Bay,
Wisconsin, told the paper, “As I was standing up there, the
responsible portion of me said, ‘This is very nice, but where am I
going to get the money for the taxes?’” He’s even thinking of
getting rid of the car for just this reason.
Even though Pontiac is paying the state sales tax and licensing
fees, the recipients will have to pay thousands of dollars in state
and federal income taxes, reports The Chicago Sun-Times. And some
of them are quite surprised–and downright worried by the tax
sticker shock that could cost each winner $7,125 or more. By law,
the winners will have to add the value of the “free”
car–$28,500–to their income. That could push them into a higher
income tax bracket. Most of the winners will likely have to pay
about 25 percent or more of the car’s value in taxes, which adds up
to $7,125. And that’s not all. The winners will also have to pay
state income tax on the vehicle.
Even though it was implied that the winners walked out of the
studio and drove away in their new cars that day, they haven’t yet
received the vehicles. The automobiles will actually be delivered
to a dealer near each winner’s home, reports the Sun-Times. Pickup
will be between October 1 and February 28. So the good news is that
the winners have time to figure out how they are going to pay the
taxes and could even delay that bill until April 2006 if they get
the car after December 31.
Questions
1. Was Oprah’s purpose truly altruistic
or something else? If something else, explain?
2. Was the cars a gift if the
recipients have to pay the taxes on it?
3. Should Oprah pay the taxes for all
or some of the recipient who could not afford it.?
4. Who all benefited from this
situation?
5. Would you feel betrayed or mislead if you
were one of her
recipient?
6. Was Oprah and Pontiac’s actions ethical?
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