Tax Reform

[Huber.]

Part of the new tax plan is to eliminate the tax credit for buying electric cars. ugh.

Story is here

https://electrek.co/2017/11/02/electric-vehicle-tax-credit-expected-slashed-new-house-tax-bill/

Rightfully so. No more federal welfare for Musk and company.

 

[KI4MVP]

Rightfully so. No more federal welfare for Musk and company.

let's just keep destroying the environment instead of taking even small steps to fix it.

Also, the tax credit doesn't go to Musk, it goes to the people who buy the cars.

Also, the tax credit was already going to get phased out for Tesla's starting a few months from now.

 

[bigfoot5415]

I just read an article that said the National Association of Home Builders is against the tax plan because it doubles the standard deduction. They think giving people a higher tax deduction will make them less likely to buy a house, because in their eyes, the only reason people buy a house is so they can deduct their home interest, and the higher standard deduction means less people hit the threshold where that matters.

Did they ever stop to think that the higher standard deduction could mean more people can now afford a house?

...and possibly put more into a mortgage, thus reducing risk for the lender.

 

[Huber.]

let's just keep destroying the environment instead of taking even small steps to fix it.

Also, the tax credit doesn't go to Musk, it goes to the people who buy the cars.

Also, the tax credit was already going to get phased out for Tesla's starting a few months from now.

The tax credit went to improves Musk's sales. He should work on doing that himself instead of at tax payers cost.

 

[KI4MVP]

The tax credit went to improves Musk's sales. He should work on doing that himself instead of at tax payers cost.

the tax break helped jump start a vital industry to our planet's future. It's a mistake to do away with it now. Musk has almost exhausted the tax break for buying Tesla, other manufacturers need the buyers incentive.

If anything, doing away with the tax break helps Musk since Tesla was on hte verge of losing it anyway. It gets phased out after 200k vehicles sold, Tesla will hit that in the next few months. Everyone else is a long ways off.

But it's still vital to move away from internal combustion engines for our planet's future.

 

[CleveRocks]

I would not be against a tax break for electric cars versus increased taxes on gasoline. But they have the same net effect.

 

[KI4MVP]

The tax credit went to improves Musk's sales. He should work on doing that himself instead of at tax payers cost.

Also, the tax credit when to the tax payers. The tax payers benefited, it wasn't at their expense.

 

[natedagg]

Also, the tax credit when to the tax payers. The tax payers benefited, it wasn't at their expense.

You can’t see how the tax credit benefited Tesla? Does that need explaining?

 

[The Process God]

Looks like I'd save about $2,300 a year before deductions, but my student loan deduction would go away. I sure as he'll don't pay enough in interest on student loans to wipe out $2,300 in savings.

 

[czvo]

Wasn't sure where to put this, but holy shit. 7 BILLION!

View: https://twitter.com/kylegriffin1/status/926807493401104384

 

[The Human Q-Tip]

Also, the tax credit when to the tax payers. The tax payers benefited, it wasn't at their expense.

Say what? At whose expense was it, if not the taxpayers?

The truth is that the credit went to the disproportionately wealthy taxpayers who are Tesla's primary customers. Everyone else was subsidizing the wealthy as they purchase their toys....

Makes me want to puke.

 

[KI4MVP]

Say what? At whose expense was it, if not the taxpayers?

The truth is that the credit went to the disproportionately wealthy taxpayers who are Tesla's primary customers. Everyone else was subsidizing the wealthy as they purchase their toys....

Makes me want to puke.

TRhe truth is we have to jump start the transition away from fossil fuels before we make our planet unfit for human life. This is expensive to do, but it’s going to cost us far more to slow the transition down. And the fact is, again, other car manufacturers are going to be hurt by this change far more than Tesla because Tesla is about to hit the point where the tax credit would be phased out for Tesla vehicles.

 

[caf]

TRhe truth is we have to jump start the transition away from fossil fuels before we make our planet unfit for human life. This is expensive to do, but it’s going to cost us far more to slow the transition down. And the fact is, again, other car manufacturers are going to be hurt by this change far more than Tesla because Tesla is about to hit the point where the tax credit would be phased out for Tesla vehicles.

The average salary of a Tesla owner is 271k. Why do they need a tax break?

For nearly a century, car manufacturers have introduced next generation tech in their high end cars bought by wealthy consumers. Why should wealthy Tesla customers get a subsidy?

On top of that Tesla is failing quite spectacularly at building a mass produced consumer vehicle. Maybe Elon should focus on building mass produced vehicles rather than fleecing middle class taxpayers to subsidize his wealthy customers.

https://cleantechnica.com/2016/04/20/results-tesla-owner-survey/

 

[CleveRocks]

Say what? At whose expense was it, if not the taxpayers?

The truth is that the credit went to the disproportionately wealthy taxpayers who are Tesla's primary customers. Everyone else was subsidizing the wealthy as they purchase their toys....

Makes me want to puke.

While i agree with the fact that the electric car tax break subsidized (indirectly) electric car manufacturers like GM and Tesla, I would argue there were other benefits to the general tax payer, such as increased manufacturing jobs in a future sector, which is also being subsidized in competing countries, and such as reducing gasoline demand if not now then in the future, which benefits even regular car owners..

So I think i can support this one..

 

[caf]

While i agree with the fact that the electric car tax break subsidized (indirectly) electric car manufacturers like GM and Tesla, I would argue there were other benefits to the general tax payer, such as increased manufacturing jobs in a future sector, which is also being subsidized in competing countries, and such as reducing gasoline demand if not now then in the future, which benefits even regular car owners..

So I think i can support this one..

Roads are funded by taxes on gasoline.

Which means that electric car owners in Ohio aren't paying for the public infrastructure they drive on.