Democrats Give Big Tax Credit to the Rich while Regular Americans Suffer under High Inflation

[Lisa558]

Democrats claim to be the party for the working guy and that Republicans favor the rich, but the new spending bill - which will exacerbate inflation - will give a $7,500 tax credit and an additional $4,000 for some wealthy people - who buy an expensive electric vehicle, including Teslas.

In the meantime, regular Americans continue to struggle under a 40-year record inflation as they figure out ways to pay for expensive gas and groceries.

U.S. Senate Democratic deal would expand EV tax credits

A Senate Democratic deal includes a new $4,000 tax credit for used electric vehicles and other new tax credits and grants for automakers to retool factories to build greener cars.

www.reuters.com

 

[rightwinger]

will give a $7,500 tax credit and an additional $4,000 for some wealthy people - who buy an expensive electric vehicle, including Teslas.

Nice try

The tax credit goes to anyone who buys an EV
The bill also increases taxes on the wealthy and corporations

Does that make you happy?

 

[Polishprince]

Nice try

The tax credit goes to anyone who buys an EV
The bill also increases taxes on the wealthy and corporations

Does that make you happy?

A lot of middle class people would like to buy an EV to enjoy this tax credit, but don't have the money available because of Sleepy Joe's out of control inflation.

Shouldn't they be given the credit as well then? After all, they would INTEND to get one of these cars, and it isn't their fault that they can't afford it.

 

[JackOfNoTrades]

Apparently, you missed the second part of the very first paragraph that is actually the meat and potatoes of the tax credit.

"and other new tax credits and grants for automakers to retool factories to build greener cars"....you know, thus helping to lower the prices of EV's. Supply, demand, economic incentives.

That inflation reckoning?..been coming for a long time now. Exacerbated by the increased demand after coming out of a pandemic that the last administration largely ignored.

You really need to think these blatant partisan political statements through before you try and pass it off as the whining it appears to be.

 

[rightwinger]

A lot of middle class people would like to buy an EV to enjoy this tax credit, but don't have the money available because of Sleepy Joe's out of control inflation.

Shouldn't they be given the credit as well then? After all, they would INTEND to get one of these cars, and it isn't their fault that they can't afford it.

They too can get the credit
If you are in the market to buy a new car it is an incentive to buy electric

So is $4 a gallon gas

 

[Lisa558]

Nice try

The tax credit goes to anyone who buys an EV
The bill also increases taxes on the wealthy and corporations

Does that make you happy?

Regular middle class people can’t afford a $60,000 car. The people buying them are well into the six figures.

We can’t afford to handout money to families earning $300,000, thereby increasing inflation, while the majority of Americans are struggling to put gas in the tank.

(As a federal retiree with an inflation-protected pension, you are protected from the inflation being driven up by Dems. You aren’t suffering the consequences of the far-left agenda.)

 

[Lisa558]

Apparently, you missed the second part of the very first paragraph that is actually the meat and potatoes of the tax credit.

"and other new tax credits and grants for automakers to retool factories to build greener cars"....you know, thus helping to lower the prices of EV's. Supply, demand, economic incentives.

That inflation reckoning?..been coming for a long time now. Exacerbated by the increased demand after coming out of a pandemic that the last administration largely ignored.

You really need to think these blatant partisan political statements through before you try and pass it off as the whining it appears to be.

And YOU need to admit that Biden and the Dems are driving inflation higher with this spending bill.

 

[Lisa558]

They too can get the credit
If you are in the market to buy a new car it is an incentive to buy electric

So is $4 a gallon gas

Again, regular middle class Americans can’t afford a $60,000 car, even with a $7500 credit.

I bought a $25,000 car, new, and it’s fine.

 

[rightwinger]

Actually, Lisa is spreading misinformation
There is an income limit on who qualifies for the tax credit when buying a car

Manchin and Schumer announce deal for energy and health care bill

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin on Wednesday announced a deal on an energy and health care bill, representing a breakthrough after more than a year of negotiations that have collapsed time and again.

www.cnn.com

Tax credits for electric vehicles made it into the new deal, according to two Senate Democratic aides. Electric Vehicle tax credits will continue at their current levels, up to $4,000 for a used electric vehicle and $7,500 for a new EV. However, there will be a lower income threshold for people who can use the tax credits – a key demand of Manchin’s.

The bill continues existing credits

 

[JackOfNoTrades]

And YOU need to admit that Biden and the Dems are driving inflation higher with this spending bill.

Except they aren't. This is an economic incentive for automakers to go green on their manufacturing.

 

[Harpy Eagle]

The income limit is a combined $300,000 so it is not really helping the rich.

With that said, this bill shows the stupidity of our tax code and of using taxes for social engineering.

 

[Blues Man]

Regular middle class people can’t afford a $60,000 car. The people buying them are well into the six figures.

We can’t afford to handout money to families earning $300,000, thereby increasing inflation, while the majority of Americans are struggling to put gas in the tank.

(As a federal retiree with an inflation-protected pension, you are protected from the inflation being driven up by Dems. You aren’t suffering the consequences of the far-left agenda.)

There are EVs at lower price points.

Ignoring that fact doesn't help your argument

Cheapest Electric Cars - Most Affordable EVs for 2022 | Edmunds

Edmunds rounds up today's cheapest electric cars and finds that the mobility of the future doesn't need to cost an arm and a leg today. Check out the cheapest EVs on the market with the Edmunds experts.

www.edmunds.com

 

[Harpy Eagle]

If you are in the market to buy a new car it is an incentive to buy electric

Is it though? Spend and extra 15 grand for a 4 grand tax credit?

 

[rightwinger]

Again, regular middle class Americans can’t afford a $60,000 car, even with a $7500 credit.

I bought a $25,000 car, new, and it’s fine.

Then the middle class can buy a $27,000 EV and get a $7,000 credit

https://cars.usnews.com/cars-trucks/electric-car-prices

Electric Cars	Base Price	Eligible for Federal EV Tax Credit	Minimum Range	Maximum Range
2022 Nissan Leaf	$27,400	Yes	149	226
2022 Mini Electric Hardtop	$29,900

 

[ThunderKiss1965]

Nice try

The tax credit goes to anyone who buys an EV
The bill also increases taxes on the wealthy and corporations

Does that make you happy?

I don't have an issue with tax credits as long as the Government is cutting spending to compensate, but the Coporate tax is nothing more than a thinly veiled Federal sales tax. The consumer is the one who pays that garbage.

 

[Lisa558]

Actually, Lisa is spreading misinformation
There is an income limit on who qualifies for the tax credit when buying a car

Manchin and Schumer announce deal for energy and health care bill

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin on Wednesday announced a deal on an energy and health care bill, representing a breakthrough after more than a year of negotiations that have collapsed time and again.

www.cnn.com

Tax credits for electric vehicles made it into the new deal, according to two Senate Democratic aides. Electric Vehicle tax credits will continue at their current levels, up to $4,000 for a used electric vehicle and $7,500 for a new EV. However, there will be a lower income threshold for people who can use the tax credits – a key demand of Manchin’s.

The bill continues existing credits

Yes, the income limit is $300,000 a year!

 

[Lisa558]

I don't have an issue with tax credits as long as the Government is cutting spending to compensate, but the Coporate tax is nothing more than a thinly veiled Federal sales tax. The consumer is the one who pays that garbage.

Agreed. The corporate tax will be paid by the middle class via less hiring and/or higher prices on consumers.

 

[rightwinger]

Yes, the income limit is $300,000 a year!

So you admit you lied

 

[Blues Man]

Personally I don't think the government should be giving tax credits for any consumer purchases.

 

[Polishprince]

They too can get the credit
If you are in the market to buy a new car it is an incentive to buy electric

So is $4 a gallon gas

They can't get it if they can't afford an electric car, or even any new car. How about a credit for those who buy a preowned vehicle or take the bus?