Earlier quoted context omitted.
Indeed. The electric vehicle incentives are very much designed that way. The rich get more money than the poor. The higher your income, the more you get back. I'd have to earn an extra $30K to get the full $7,500 (and switch from high deductible to traditional healthcare/cancel my HSA), whereas someone wealthier buying the same car gets every cent.
Not quite. That $7500 is a full on tax credit. Not a deduction. So as long as you pay more than $7500 in taxes, you get it all back. And if for some reason you pay less, you’ll get a refund.
* https://ttlc.intuit.com/community/tax-credits-deductions/dis...