Posted on 04/08/2015 10:54:33 AM PDT by C19fan
Both are reducing the taxes you owe, which is different from getting money outright. You don’t get the credit if you don’t have a greater tax liability.
Not quite. You’re confusing refundable vs non-refundable tax credits. Significant difference.
And no, the state of GA is _not_ giving me a $5000 check; they’re just letting me subtract $5000 from my tax liability (amounting to “you pay us cash, or you do something else we value at $5k”).
Can you provide proof that “You don’t get the credit if you don’t have a greater tax liability”?
In the garage on Jackson north of 12th I walked up to the meter and it said free. However I did not confirm since I don’t have an electric car.
What is a “non-refundable tax credit”?
Can it tow my boat? If not I’ll keep my F250....
It does not matter whether it said “free” or not.
The electricity used to charge a battery is NOT free.
No the closest to perfect fuel for cars is as follows:
- An electric car charged on a grid supplied by hydroelectric power. THESE CARS RUN ON WATER THAT FALLS FROM THE SKY.
Nuclear power is a close second. You can also produce hydrogen from hydro and nuclear and use that in a fuel cell vehicle.
Oil derived fuels are for cross country vehicles. The vast majority of cars don’t wander more than 100 miles from home. And if you need a fossil fuel vehicle, diesel is superior in every aspect.
You’re serious?
Musk got taxpayer funding for the Tesla to the tune of 465 million.
Also, the Tesla gets that taxpayer subsidy just like the Volt.
Well.... It’s not at all hard to find ways that the government subsidizes the rich. Bank bailouts, all Obama’s green energy “investments”... the rich have power and use it to get stuff from the government. That’s one of the problems with big government it always enriches the elite who have the power to control it. I think Musk got some subsidies and loans and I’m sure some people with creative accountants get the tax break. As a rule, big government takes from the productive and gives to the connected. But Tesla has at least produced a product, made some innovations, and employed some people. That puts them way ahead of where lots of your tax money goes.
The left doesn't want any hyrdroelectric power either---if you are talking about dams.
Canyons fill, habitat is submerged, the rivers silt up...in the western U.S. the big challenge is to hang on to the dams already in place.
“Fossil fuels,” really?
LOL.
Science shows that oil is a natural product the Earth generates constantly. It is absolutely NOT a “fossil fuel” derived from decaying ancient forests and dead dinosaurs.
Read more at http://www.wnd.com/2008/02/45838/#D1qTp7HAembWd75B.99
You greedy folk sure do love your Welfare...
It would be the odd case for a person to have less than a $7,000 tax liability and have the money to drop 70 Grand on an "I'm a Good Person" badge.
It would, indeed. But I’m sure it’s not impossible, either.
While ?I am wholeheartedly opposed to the tax credit, I have a minor point of correction. The EV tax credit is non-refundable. This means, that unlike EITC, there will be no check mailed to the taxpayer...the non-refundable tax credit can only bring the filer’s tax liability to zero, but not below it.
When the Volt first came out, I trolled the Volt boards. I discovered a lot of hipster do gooders were confused about this. They had bought the Volt, but were not getting the full $7,500 credit, because their tax liability wasn’t high enough....also meaning, IMHO, they had no business buying a $40k car.
EV Ping!............
Absolutely. You get a certificate from the state stating you get the $5000 tax credit, and if you don’t use it on your state tax return within 5 years you lose whatever you didn’t use. When filling out the state tax return, you subtract the credit from your liability; if the result is negative, you carry that over to the next year; if your 5-year cumulative liability is under $5000, you don’t get the remainder. (If you want more “proof” than that, go look it up. I’m not doing research and posting extensive quotations & document copies just so you can glance at it and ignore it.)
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