Federal tax subsidy for electric cars going away, Dems must like the rich losing tax breaks

[ColonelAngus]

ONLY THE RICH CAN AFFORD ELECTRIC CARS...so this is good. It punishes the rich people who buy $80,000 and higher Teslas!

Tesla share crash amid Republican bid to kill off electric car tax break

Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.

The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.

Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.


Click to enlarge ... Source: Google Finance

Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.

 

[g5000]

Excellent.

We should remove ALL government behavioral controls in commercial markets. Mortgages, electric cars, refrigerators, etc.

 

[tyroneweaver]

Dems are all pissed cause trump stole their thunder
Dems are like the Pharisees in Jesus’s time

 

[The Irish Ram]

My car was expensive enough. I don't want to pay for yours too. Businesses need to stand on their own or fail on their own.

 

[MACAULAY]

But, it was a good lesson to Bolsheviks-Democrats of what a real Subsidy looks like.

They think letting Exxon deduct the cost of exploring for oil, from the amount raised when the oil is sold...is a Subsidy.

 

[shockedcanadian]

A subsidy of this nature for the wealthy in order to prop up an industry is wrong. Not only wrong from a free market standpoint, and of course the poor taxpayer but also because it is not a necessity. It's one thing to assist people in order to sustain their life, quite another to pay for someones convenience or toys.

 

[BluesLegend]

Government investing in NASA, cancer research, big picture stuff that may benefit everyone sure. Propping up some dipshit 'green' energy car nonsense only wealthy people can afford wow pretty stupid.

 

[g5000]

ONLY THE RICH CAN AFFORD ELECTRIC CARS...so this is good. It punishes the rich people who buy $80,000 and higher Teslas!

Tesla share crash amid Republican bid to kill off electric car tax break

Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.

The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.

Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.


Click to enlarge ... Source: Google Finance

Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.

Soggy in NOLA

What's it like to meltdown 7 days a week?

 

[ColonelAngus]

My car was expensive enough. I don't want to pay for yours too. Businesses need to stand on their own or fail on their own.

X 1,000!

Hell yes.

 

[ColonelAngus]

Think of all the abortions and condoms that can be bought by removing the $7500 federal tax subsidy from all electric cars!!

 

[The Original Tree]

Elon Musk is nothing but a GREEN ENERGY CON MAN and HUSTLER.
Same as Al Gore.

Elon Musk quits presidential councils as CEOs criticize Trump's Paris accord exit

 

[BluesLegend]

And then we have politicians punishing citizens who dare purchase a diesel vehicle.

 

[iceberg]

ONLY THE RICH CAN AFFORD ELECTRIC CARS...so this is good. It punishes the rich people who buy $80,000 and higher Teslas!

Tesla share crash amid Republican bid to kill off electric car tax break

Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.

The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.

Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.


Click to enlarge ... Source: Google Finance

Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.

Soggy in NOLA

What's it like to meltdown 7 days a week?

ask an anti-trumper. seems they melt down on tweet.

 

[g5000]

The mortgage interest deduction is also a subsidy paid for by other taxpayers. But boy oh boy do the pseudocons scream like welfare queens when you talk about taking it away!

 

[ColonelAngus]

I agree with the previous poster.

I shouldn't be helping people purchase a $100,000 SUV. Thank GOD that Trump is taking away tax breaks for the wealthy. IT WILL BENEFIT THE MIDDLE CLASS AND CHILDREN!!!!

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