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House Republicans propose to scrap $7,500 electric vehicle credit

reuters.com

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Re: House Republicans propose to scrap $7,500 electric vehicle credit

#81

Post by matt4077 »

[deleted] wrote: post #41

[deleted]

Because it makes it cheaper to buy that car, which makes it more likely for someone to buy it, which increases sales, which allows Tesla to invest in improving technology such as batteries and also to achieve economies of scale, which would allow prices to come down, which would lower the number of ice vehicles, which would lower the use of oil as an energy source, which would lower CO_2 emissions (and also pollution, international competition for resources, and the volatility of the mideast), which would lower the concentration of CO_2 in the atmosphere, which would allow more of the sun's irradiation heat to escape earth, which would slow the rise of global average temperature, which would lower the risk of widespread famine, death, war, impoverishment, migration, and mild unease that usually accompany major changes in the environment such as a countries' ability to grow food, or weather Austria needs a navy or not.

But you kinda knew that already, right?

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#82

Post by evo_9 »

rukittenme wrote: post #37

I have a lot to say on this... > Critics say electric vehicle buyers tend to be wealthier than average Americans and do nod need subsidies. I love how this gets buried at the bottom after an avalanche of criticism. A free $7500 for the rich and an additional $7500 in revenue for manufacturers. Say what you want about the American political system, it is a master class in manipulation. "But the environment!" Assuming…

Ironically this might have been true in the past when your only EV option was a Tesla; however the Chevy Bolt is selling like mad, the Chevy Volt continues to sell well and you have quite a few choices either out or coming to market in early 2018, including the VW E-Golf, Hyundai Ioniq, Kia Soul EV to name just a few that are under 30k.

Removing the EV Credit now makes no sense; perhaps a better approach is to limit the EV Credit to cars that cost under 50k; this would ensure the credit isn't used on luxury EV's and allow the market to continue to grow.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#83

Post by dsfyu404ed »

smileysteve wrote: post #9
stusmall wrote: post #4

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.

Buying specialized vehicles is a very upper class thing to do. The middle and lower classes aren't willing to pay new car prices for something unless it can do everything, not just commute or tow their camper or boat.

That's why crossovers, SUVs and half-ton pickups with multiple rows of seating are so popular among less wealthy new car buyers.

Buying a commuter vehicle that can do little else well is definitely an upper class(es) thing.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#84

Post by NoPiece »

Cshelton wrote: post #58
rukittenme wrote: post #37

I have a lot to say on this... > Critics say electric vehicle buyers tend to be wealthier than average Americans and do nod need subsidies. I love how this gets buried at the bottom after an avalanche of criticism. A free $7500 for the rich and an additional $7500 in revenue for manufacturers. Say what you want about the American political system, it is a master class in manipulation. "But the environment!" Assuming…

Also it is a tax credit.. meaning you only get the $7,500 if you actually owe at least $7,5000.. AFTER the standard deduction. Basically, anyone with under ~$100k annual income would not even receive the whole credit, if any at all.

"Tax credits are subtracted not from taxable income, but directly from a person’s tax liability; they therefore reduce taxes dollar for dollar. As a result, credits have the same value for everyone who can claim their full value."

http://www.taxpolicycenter.org/briefing-book/whats-differenc...

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#85

Post by Anon1096 »

dragontamer wrote: post #64
chc wrote: post #47

Earlier quoted context omitted.

How does the standard deduction going up benefit the rich or harm the non-rich? Aren't lower- and middle-class people most likely to take the standard deduction, and thus be able to deduct more?

They're cutting a lot of deductions. EDIT: Seems like my information is out of date. I'll just edit my misinformation out (ie: most of the previous post)

401k deductions and plans aren't being touched.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#86

Post by aoeuasdf1 »

smnrchrds wrote: post #13
ghouse wrote: post #2

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.

If we want to leave it all to the markets, we need to consider the externalities too, e.g. through a carbon tax.

Which doesn't even take into account other serious externalities like smog.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#87

Post by fhood »

matt_wulfeck wrote: post #74
fhood wrote: post #21

Earlier quoted context omitted.

I disagree. Phasing out new production of C02 producing vehicles benefits everyone and by extension, failing to encourage it hurts everyone. This isn't a localized issue. It isn't like Texas (for instance) can produce as much carbon dioxide as they want, and it will only affect Texas.

Yet the state you criticize (Texas) is leading the country in green, renewable energy [1] 1. https://www.wsj.com/articles/which-state-is-a-big-renewable-...

I didn't research, I just picked one at random. Please replace Texas with whatever state you like. That isn't really the point.

Edit: And also, I just checked and Texas does NOT do very well on CO2 emissions per capita.

Edit: Also I did some more checking and Texas is not leading the country in renewable energy, it is 22nd

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#88

Post by RayVR »

rukittenme wrote: post #37

I have a lot to say on this... > Critics say electric vehicle buyers tend to be wealthier than average Americans and do nod need subsidies. I love how this gets buried at the bottom after an avalanche of criticism. A free $7500 for the rich and an additional $7500 in revenue for manufacturers. Say what you want about the American political system, it is a master class in manipulation. "But the environment!" Assuming…

Based on EPA estimates of global greenhouse gas emissions, converting every US passenger vehicle to electric, assuming those vehicles are then driven for at least seven years, the net reduction to global emissions is roughly 1%.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#89

Post by lostlogin »

microcolonel wrote: post #69
kadenshep wrote: post #57

Earlier quoted context omitted.

>A considerable proportion of the revenue is quite literally diverted into forces intended to cause states to fail or stagnate. Yeah you're gonna need a credible source on that claim.

It's my understanding that, at their height, IS derived much of their revenue from captured oil assets. Note that I'm specifically not making the claim that all middle eastern oil revenue is tied to some terror group, but I'm pretty sure some of it is. Please do correct me if I am wrong.

That ISIS got funding from oil is not controversial that I’m aware of. The Independent did a lot of coverage of it at one stage. I’m sure they aren’t the only group too. Depending on your politics, the Kurds make money from oil too, but they are a state waiting to exist in my view.

Re: House Republicans propose to scrap $7,500 electric vehicle credit

#90

Post by dragontamer »

Anon1096 wrote: post #85
dragontamer wrote: post #64

Earlier quoted context omitted.

They're cutting a lot of deductions. EDIT: Seems like my information is out of date. I'll just edit my misinformation out (ie: most of the previous post)

401k deductions and plans aren't being touched.

Yeah, my info was out of date. I edited my post to something way more conservative.
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