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The only one that qualifies for the full $12,500 is a car that production has been halted.Here's how the proposed changes shake out, and keep in mind, they may change yet. The base amount remains $4,000, as it is today, with another $3,500 available if the EV's battery pack includes at least 40 kilowatt-hours of capacity. In the case of plug-in hybrids, the gas tank cannot exceed 2.5 gallons. This is for cars placed in service before 2027. Now comes the $5,000 boost. EVs and consumers will be able to qualify for another $4,500 in the tax credit if an automaker makes the EV in the US with a union workforce. Another $500 comes into play for automakers using a US-made battery, for a maximum of $12,500 available. Today, the only car that would qualify for anywhere near the full proposed credit is the Chevrolet Bolt EV and Bolt EUV. This provision would, notably, exclude Tesla and even the Ford Mustang Mach-E, since it's assembled in Mexico.https://www.cnet.com/roadshow/news/ev-tax-credit-biden-bill-...
That's too bad.America's growing ranks of people on food stamps, people with food and shelter insecurity, and retirement insecurity, and many Americans of color who can not participate in tax goodies to nearly the level that well educated white Americans do.........sure could use a new car, it's their #1 priority. Then they can drive their new car thru the drive thru and at least smell the food.Biden Pelosi Schumer, 2020
The point of EV tax credits isn't to help people buy cars, but to help lower our carbon emissions by means of replacing more ICs with EVs.Unlike Republican fake trickle-down tax policies, this policy will actually trickle down good used cars for the rest of us.
Mary Barra, CEO of GM has electrified the entire auto industry according to Joe Biden.Mary, I can remember talking to you way back in January about the need for America to lead in electric vehicles. And I can remember your dramatic announcement that by 2035, GM would be 100% electric. You changed the whole story, Mary, wherever — [applause] — wherever you are. There you are. You did, Mary. You electrified the entire automobile industry. I’m serious. You led — and it matters — in drastically improving the climate by reducing hundreds of millions of barrels of oil that will not be used when we’re all electric.You know, up until now, China has been leading in this race, but that’s about to change.https://electrek.co/2021/11/18/president-biden-gm-ceo-marry-...
The point of EV tax credits isn't to help people buy cars, but to help lower our carbon emissions by means of replacing more ICs with EVs.Unlike Republican fake trickle-down tax policies, this policy will actually trickle down good used cars for the rest of us.**********************Cool! The market for used Bolts and Volts who did get the credit - - yeah, that sure is booming. (Someone who has been the #1 retailer of said units in the Northeast region acing markets like Princeton, NJ - and made ton of money off it - might know a bit about that)But hey, to the many Americans needing something to eat - the used cars are gonna trickle down to you. *That* is our higher priority. And hey, it works. Why? I said so.
"he point of EV tax credits isn't to help people buy cars, but to help lower our carbon emissions by means of replacing more ICs with EVs.Unlike Republican fake trickle-down tax policies, this policy will actually trickle down good used cars for the rest of us."Of course to extremists, "Party" has to get into everything and that's fine. Trickle down used cars....Let's see, 16 million new units sold? Take out great 17 million years, and years like this where due to semiconductors, and the Aloof Campus making America depend on foreign country....an SAAR of 14 million. So let's use a realistic average of 16 million.What's EV adoption in 2025? 20%? Ok cool. So the Campus will give the same people who got SALT and 401K benefits - $12500. Cool! 4 million EVs sold. "But good used cars will trickle down to the rest of us!" OK cool. How long before people turn those 2025 cars in? The average is around 6 years that people keep cars. (America's fleet is even older today). So....... in 6 years...... 4 million "good used cars" will "trickle down to the rest of us"....and that assumes they'll all be in great shape. And that assumes - people will get rid of cars that might well last waaaaaaaay longer than 6 years.Yeah.That's a conclusion only the Campus could arrive at as reason for a policy that gives people, already well to do - more money towards discretionary purchases.While many other Americans - worry about food. Trickle down? The Aloof Campus is about trickle-up.
I should've been more clear. I wasn't referring to used EV cars in the future (although that's a pretty good point-), but used cars in the now, off-loaded by those using the tax credit to buy new EVs.Plenty of people have to, or prefer to, buy used.
"I should've been more clear. I wasn't referring to used EV cars in the future (although that's a pretty good point-), but used cars in the now, off-loaded by those using the tax credit to buy new EVs.Plenty of people have to, or prefer to, buy used."So, while millions of Americans lack food, shelter, retirement security...... giving $12,500 to someone to buy a car worth upto $80,000....is the way to get people a good deal on a used car? LOL what, is Biden gonna throw in free floor mats too? Does he have to ask his manager permission?So now, we have upper income Americans, mostly white - getting a lions share of 401K tax benefits, 529, and IRA benefits. Democrats want to give them $80,000 in SALT deductions. BUT WAIT, that's not enough - people who want a car upto $80.000.....will get $12,500 in Democrat money too! Wow, if you're rich and white - vote Democrat for sure. "I'm helping a working class woman!"Really? Instead of spending $12,500 on upper income people to buy cars..... if you really are concerned - why not give smaller monies to the people who actually *need* that used car and help them buy it? Answer: The Campus never thinks about real life, street level. And Liberals, want to help the upper income, and the white -*all* they possibly can.Right down to free floor mats.I'd say I"m surprised but I'm not. Slowly ,Dems are coming out of the closet..... the true party of the rich. And of course, the envious too - as a side order that is louder .
The Campus never thinks about real life, street level. Sez the guy with the favorable real estate tax dodges.I've been working poor, on food stamps, gone to free health clinics, and have lived in a dodgy apartments or two. I was once evicted from a sublet while I was attending a wedding out of state, returned to find all my worldly goods on the curb. I drive a 14-year-old car and am looking forward to one of those rich folks buying a Tesla so I can buy their nice used car. I currently take care of my husband with dementia with just a few hours of respite a week, and see to my disabled brother as I can. . DH can no longer find his way to the bathroom in our own house, and neither speaks nor understands English. Let me know when you've experienced as much "real life" as I have.PS--NYers should be able to deduct their non-fed taxes from their fed taxes same as everyone else. I do, however, favor alternative minimum tax and a much steeper income tax. And did when I was better off in our peak earning years.
I'm always sorry when I read his posts <grrrr>.
"Sez the guy with the favorable real estate tax dodges."Only following the law - as it was developed by Campus people :) :) As usual - they get it wrong. If you feel its a "dodge" - then blame the Campus Grads who made the laws. As far as wanting SALT deductions for upper income white people, nothing wrong with that. Be "Proud!" - everyone is entitled to that and in this case, the constituency has plenty of clout in America.
Yes, it called out total Disneyland speak.Mind you, Peter Pan has more of a chance being real, then $12,500 giveaways to upper income people - as means to develop affordable inventory for others.Real things.They are Inconvenient Truths.No extra credit for abstract art at the symposium and study group.
That's what the p-box is for.No one who is not already lost to reality would be convinced by anything he has to say, so there is no point in attempting to rebut his idiocies.Wessex
Trumpers don't like being challenged.
Here at Campus Motors have we got a deal for you!!!!! Cue dancing girls and checkered flags....Free popcorn!!!Free hot dogs!!!!And....... you "normal people" get to wait 6 years (if you're lucky) for the Campus to trade in their EV's - that the government paid them $12,500 to buy a car with a price up to $80,000! (Yeah Middle Class, we don't wanna here your problems. Times were tough, we felt people needed help buying an $80,000 car. So stuff your grocery bills ok?)So if someone bought an $80,000 EV.....and *hopefully* gets rid of it in 6 years which is the average time - what's the residual? It holds 30% of value? ....woo-hoo so the "good used car" is worth $24,000. Add to that reconditioning costs, retail markups, taxes and DMV......so now you got about $29,000. But *wait* it's 6 years old with some miles on it so you can't get long term financing. So do what all "working people" love - get a shorter term, and a higher monthly payment!!! That's right we got 2 payment plans for ya ....1.) High. 2,)Too Darn High!!! So let's say you get 48 month term..... woo-hoo!!!! Mr "middle Class".....you get to pay about $665 per month for a used car!!!! Yeah everyone can afford $665 per month. Oh, wait, remember- you bought a used car with new EV technology so if it breaks - yeah, you can afford the repairs.So come on down to Campus Motors. Follow the smell of conceit, and for an extra $100 off....touch the building from outside - because we're "out of touch" ...get it? "out of touch". *No TMF member is attacked in this post. A real world example, mathematical example has been illustrated on how great it will be for a few middle class people to pay $664 per month for a used car - they all want that badly. Reality - it's an Inconvenient Truth*
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