Ford and GM want the money that Biden promised to electric car buyers as a tax credit

[Seymour Flops]

And they are going to get it!

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates.

Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150 Lightning electric vehicles, while General Motors upped its electric Hummer cost by $6,250 last month.

Inflation Reduction Act promises $7,500 electric vehicle credits after Ford and GM raised prices - Washington Examiner

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates. Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150...

www.washingtonexaminer.com

Only a liberal Democrat could say with a straight face, "I dint know that would happen!"

So, the tax credit amounts to a loan the buyer must make to Ford or GM as part of buying an EV, with Uncle Sam to pay back the loan at no interest. Again, the middle income taxpayer takes it in the rear end to enrich the Dems' corporate donors.

 

[ColonelAngus]

So no net savings for consumers…..shocking.

 

[toobfreak]

And they are going to get it!

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates.

Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150 Lightning electric vehicles, while General Motors upped its electric Hummer cost by $6,250 last month.

Inflation Reduction Act promises $7,500 electric vehicle credits after Ford and GM raised prices - Washington Examiner

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates. Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150...

www.washingtonexaminer.com

Only a liberal Democrat could say with a straight face, "I dint know that would happen!"

So, the tax credit amounts to a loan the buyer must make to Ford or GM as part of buying an EV, with Uncle Sam to pay back the loan at no interest. Again, the middle income taxpayer takes it in the rear end to enrich the Dems' corporate donors.

Oh, Gee, just another 8,500 reasons NOT to buy an EV just as both the government and industry are all committing wholehog to them.

Normal companies supply products that people WANT, the better they like them the more they sell, but as soon as you get the demscum federal fucked government involved, the companies suddenly start supplying products that the government then shoves down your throat whether you want and need them or not telling you that you are gonna buy them one way or the other, and they all end up spending 10X as much on what ultimately becomes a bellyflop failure every time and we wonder why we are all broke.

 

[Foxfyre]

It's just like the so-called "Inflation Reduction Act" that is truthfully the "Increased inflation, more costly and harder to get healthcare, more useless but exorbitantly expensive climate change initiatives and regulation, tax everybody more act."

Almost every reputable economist in the country and the CBO told Biden AND Congress that the bill would not reduce inflation but would exacerbate it.

Artificial manipulation of any part of healthcare costs has always resulted in even higher costs somewhere else just as we see in the auto industry.

I don't know how many mega billions this country has already wasted on climate change stuff with absolutely zero positive effects on the climate to show for it.

Every Democrat senator and congressperson must have flunked economics 100 because you can't tax businesses earning $400 million or more without seriously increasing the cost we pay for everything we buy and/or laying off employees or reducing their raises and benefits, all of which becomes a huge tax on all Americans. That is especially true of 'punishing' oil companies as almost everything we buy has petroleum involved in the manufacturing, storage, transportation, marketing, or components of the products themselves. Some smaller businesses are just now recovering after forced shutdowns during COVID and this will set them back again.

So yeah. The government couldn't foresee the affect a huge giveaway would have on the auto industry? Or the serious negative consequences of everything else it is doing right now? Or they just don't give a damn?

 

[Baron Von Murderpaws]

Thats the way the Democrats roll, and how the corrupt companies get consumers to pay for THEIR greed and avarice.

 

[Care4all]

Www.washingtonexaminer.com/policy/energy-environment/automakers-electric-vehicles-biden-signs-bill

Automakers rush to sell electric vehicles before Biden signs bill with new rules​

 

[francoHFW]

And they are going to get it!

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates.

Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150 Lightning electric vehicles, while General Motors upped its electric Hummer cost by $6,250 last month.

Inflation Reduction Act promises $7,500 electric vehicle credits after Ford and GM raised prices - Washington Examiner

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates. Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150...

www.washingtonexaminer.com

Only a liberal Democrat could say with a straight face, "I dint know that would happen!"

So, the tax credit amounts to a loan the buyer must make to Ford or GM as part of buying an EV, with Uncle Sam to pay back the loan at no interest. Again, the middle income taxpayer takes it in the rear end to enrich the Dems' corporate donors.

There are so many hoops to jump through nobody is getting 7500. Most of the hoops mean that you have to have American built parts that haven't even been started yet here. A good little push as well as the infrastructure bill, for Republicans who can't understand about intelligent government...

 

[Rigby5]

What is even worse is that electric cars avoid paying road repair taxes that are paid at the pump.

 

[Seymour Flops]

What is even worse is that electric cars avoid paying road repair taxes that are paid at the pump.

Yes, if electric cars become the majority, the feds will find a way to tax electricity.

 

[Dragonlady]

And they are going to get it!

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates.

Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150 Lightning electric vehicles, while General Motors upped its electric Hummer cost by $6,250 last month.

Inflation Reduction Act promises $7,500 electric vehicle credits after Ford and GM raised prices - Washington Examiner

Ahead of the Inflation Reduction Act extending the tax credit of up to $7,500 for purchases of new electric and hybrid vehicles, Ford and General Motors announced price increases at similar rates. Last week, Ford announced price hikes between $6,000 and $8,500 for most of its lineup for F-150...

www.washingtonexaminer.com

Only a liberal Democrat could say with a straight face, "I dint know that would happen!"

So, the tax credit amounts to a loan the buyer must make to Ford or GM as part of buying an EV, with Uncle Sam to pay back the loan at no interest. Again, the middle income taxpayer takes it in the rear end to enrich the Dems' corporate donors.

Every time the government gives break to working people, corporations find a way to pocket the money.

 

[there4eyeM]

No one, "right" or "left", seems to be thinking things through.

 

[Polishprince]

Every time the government gives break to working people, corporations find a way to pocket the money.

The "way" here is just the free market.

If you increase the amount of money which is only available for a certain purchase, the demand for that purchase will go up.

Its just the same as increasing subsidies for abortion or college tuition or whatever.

 

[there4eyeM]

Capitalism at work.