Tax credit (Green ACT)

[zpaul]

LOL quite disingenuous as Michael Moore owns 9 of those homes. I'm not sure your point as well. So people who are in power, have money and have a chance to help address income inequality shouldn't? Rather those who enrich themselves at the cost of everyone else gets people lining up to defend them with fervor.

No the point is people like Bernie and such never worked anywhere their whole life and benefited the system the most.
And they live a very wealthy lifestyle flying private jets having full health coverage. They are in bed with all these billionaires that enrich themselves through these politicians.

People like Bernie, Warren, and such sell you the dream that they will tax the hell out of these billionaires.
But through the history of things I see that only my taxes go up, only my insurance premium goes up, only my food and housing is getting more expensive.

Why do you think Google, Netflix, Twitter, and on and on poring money into politics? Why GM gets bail out money and moves production to Canada and Mexico? Why no one is calling out these?
All these lobbying is a legalized bribery.

 

[juliusa]

we do not tax wealth

Feds don't (yet). Some states tax certain assets (homes, cars, boats) with a personal property tax.

I'm in favor of a much simpler tax code - gross receipts tax with few (or no) deductions. Including no deduction or credit for EVs. I don't think the tax code is the best way to punish/reward people. For EVs, we should simply make carbon more expensive and fix carbon that way - not with all sorts of complicated EV and renewable energy incentives - let economics do its magic. (I'm in favor of the carbon tax/credit system).

All that said, I would still allow a partial (50%?) deduction for CASH given to charity (not appreciated stock), and 100% deduction on CASH given to charity where 100% of the funds paid by the charity stay in the United States. I think charitable organizations to play a role in society and are in many ways a substitute for government - this gives people more control over social programs.

If Jeff Bezos wants to sell $1B of stock with $0 basis and give $500M to a charity that spends 100% of it in the US, I'm ok with him cutting his tax bill from $238M down to $138M. (the $38M in Obamacare tax is not affected by charitable deductions currently).

 

[juliusa]

I just want to know when an EV Tax Credit/POS Rebate will be confirmed one way or the other. That's all.

Hopefully not. It is bad public policy.

 

[Ejl80]

No the point is people like Bernie and such never worked anywhere their whole life and benefited the system the most.
And they live a very wealthy lifestyle flying private jets having full health coverage. They are in bed with all these billionaires that enrich themselves through these politicians.

People like Bernie, Warren, and such sell you the dream that they will tax the hell out of these billionaires.
But through the history of things I see that only my taxes go up, only my insurance premium goes up, only my food and housing is getting more expensive.

Why do you think Google, Netflix, Twitter, and on and on poring money into politics? Why GM gets bail out money and moves production to Canada and Mexico? Why no one is calling out these?
All these lobbying is a legalized bribery.

Not that I like Bernie, but he has actually worked as a carpenter before. Surprising.

 

[Plasmid_Boy]

It seems that some tend to put people into imaginary boxes, but I feel that most would be good friends if they get to know one another. Imaginations are sometimes not real.

 

[OCJeff]

Hopefully not. It is bad public policy.

I don’t disagree. Just level the playing field for Chevy and Tesla. Either scrap it or open it up to all manufacturers.

 

[zpaul]

Not that I like Bernie, but he has actually worked as a carpenter before. Surprising.

Thank you, didn't know that fun fact.

 

[Plasmid_Boy]

A progress, I guess.

Bipartisan Senate group reaches infrastructure deal without tax hikes — but leaders still need to sign off

Ten Democratic and Republican senators reached a deal on infrastructure but need to win over President Joe Biden and congressional leaders.

www.cnbc.com

 

[Glenn T]

I would think you would have to purchase after the bill actually passes and is funded. It wouldn't be "grandfathered" in for those who already bought one. I would also guess that it would be limited to first time EV buyers (within a certain tax bracket) to prevent those existing owners from swapping cars just for the tax break.

Good point on 1st Time EV Buyers.