Not really...
I guess we will never see eye to eye on this but just remember that previously there was a $7500 tax credit available for every single EV sold except Tesla and GM with no limit on cost, income or manufacturer. That law was cancelled for non-North American manufacturers last August and replaced by the IRA for North American manufacturers without the 200,000-unit limit that shut off Tesla and GM. The IRA does two things: First it incentivizes North American manufacturing of Batteries and cars; and second it incentivizes purchasing EVs by bringing pricing closer to ICE cars. It also finally does put new caps on prices and income.
Nothing to disagree with.
But this does not change the fact that:
- The $80,000 cap is more than twice the average American income and equal to the median income, your quote, of an American family. Surely no one would who earns before taxes, either $32,000 or $80,000 can afford to buy an $80,000 car or even a $60,000 car.
- A family that earns $300,000 per year is in the top 2% of American earners.
My point is: No matter how you cut it, these tax credits, paid for by all Americans,
rich and poor, dramatically favor the rich or very rick.
IMO, and again you may disagree, we should not be taking tax revenues from ordinary working people and give $7,500 to a person making $150,000 per year or a couple making $300,000. People making this kind of income, a multiple of what the average American makes, do not need a tax break.
Can you honestly say that giving a $7,5000 tax break to a couple making $300,000 a year is better use of tax revenue than fixing our roads, bridges, tunnel, education and health care? Remember that with all taxes, this is a finite number: so whatever goes in pot "A", tax credits for example, does not go in pot "B", roads, bridges, tunnels, education, health care.
I cannot.
This is my last post on this subject.
