11–20 of 161 posts
I mean it's kind of the point of tax reform. You eliminate deductions that only wealthier people benefit from and lower the rate over all. You'll see a lot of deductions go away that are good on their own but in aggregate with all the other deductions give us such a massively complex system.
And if they scrap oil subsidies too, the market can figure it all out. But looks like most direct and indirect O&G subsidies will remain.
And if they scrap oil subsidies too, the market can figure it all out. But looks like most direct and indirect O&G subsidies will remain.
I mean it's kind of the point of tax reform. You eliminate deductions that only wealthier people benefit from and lower the rate over all. You'll see a lot of deductions go away that are good on their own but in aggregate with all the other deductions give us such a massively complex system.
Sadly, most of the deductions that disproportionately benefit wealthy people aren't going anywhere (mortgage interest, IRA/401k/tax-free savings, FSA/HSA, etc.) since they appear to benefit everyone and foster the american dream of home ownership.
* State / Local tax disproportionately benefits richer states (which tend to have higher income taxes). That's also going away.
The real issue IMO is that the standard deduction is going up, and the top tax rate is going down. The overall effect seems to be a tax-increase for me and a tax-decrease to those who are richer than me.
They probably should close the backdoor Roth loophole, and a few other corporate loopholes (Irish Double Sandwich or whatever its called).
And if they scrap oil subsidies too, the market can figure it all out. But looks like most direct and indirect O&G subsidies will remain.
https://www.forbes.com/sites/drillinginfo/2016/02/22/debunki...
Curious if this would impact the yet-to-be-produced Tesla Model 3s or if it would only discourage future automakers from manufacturing EVs?
https://www.cnbc.com/2017/07/28/tesla-is-running-out-of-fede...
So people at the front of the line would be eligible for the full amount.
The ongoing drop in battery costs is likely a bigger factor than the rebate though.
I bought a Prius Prime earlier this year anticipating that such a move was possible. This would be a real shame, though, because it does help level the playing field a bit given how much our country invests in oil.
I mean it's kind of the point of tax reform. You eliminate deductions that only wealthier people benefit from and lower the rate over all. You'll see a lot of deductions go away that are good on their own but in aggregate with all the other deductions give us such a massively complex system.
> You eliminate deductions that only wealthier people benefit The Nissan Leaf and Chevy Volt aren't particularly upper class cars. Neither is the Model 3.
Lots of fine vehicles available for $15,000, $15,000 is an awful lot of gas (and you save on insurance and financing with a cheaper vehicle, so the lower maintenance on the electric isn't the only consideration).
I mean it's kind of the point of tax reform. You eliminate deductions that only wealthier people benefit from and lower the rate over all. You'll see a lot of deductions go away that are good on their own but in aggregate with all the other deductions give us such a massively complex system.
This is not some exploitable loophole abused by the ultra wealthy.
Curious if this would impact the yet-to-be-produced Tesla Model 3s or if it would only discourage future automakers from manufacturing EVs?